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Esem Spor Giyim Q1 profit climbs 35.1% YOY

Esem Spor Giyim Sanayi Ve Ticaret AS said its normalized net income for the first quarter amounted to 244,080 lira, a rise of 35.1% from 180,660 lira in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 2.5% from 2.1% in the year-earlier period.

Total revenue increased 15.8% on an annual basis to 9.8 million lira from 8.4 million lira, and total operating expenses grew 10.3% year over year to 9.1 million lira from 8.3 million lira.

Reported net income came to 309,800 lira, compared with 244,590 lira in the prior-year period.

As of May 10, US$1 was equivalent to 2.94 Turkish lira.