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Denizli Cam Q2 profit climbs YOY

Denizli Cam Sanayii ve Ticaret AS said its normalized net income for the second quarter amounted to 17 kurus per share, an increase from 5 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.0 million lira, an increase from 321,450 lira in the prior-year period.

The normalized profit margin climbed to 4.9% from 1.8% in the year-earlier period.

Total revenue climbed 17.4% on an annual basis to 20.8 million lira from 17.7 million lira, and total operating expenses climbed 15.7% from the prior-year period to 19.4 million lira from 16.8 million lira.

Reported net income grew 55.3% year over year to 1.3 million lira, or 22 kurus per share, from 831,490 lira, or 14 kurus per share.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.