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Adese Alisveris Merkezleri Ticaret Q1 profit falls YOY

Adese Alisveris Merkezleri Ticaret AS said its normalized net income for the first quarter came to 961,170 lira, a decrease of 56.9% from 2.2 million lira in the prior-year period.

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

The normalized profit margin dropped to 0.6% from 1.7% in the year-earlier period.

Total revenue rose 14.7% year over year to 150.4 million lira from 131.1 million lira, and total operating expenses climbed 15.0% from the prior-year period to 148.1 million lira from 128.7 million lira.

Reported net income rose from the prior-year period to 1.5 million lira, or 1 kurus per share, from 308,080 lira, or 0 kurus per share.

As of May 11, US$1 was equivalent to 2.69 Turkish lira.