Martı Otel İşletmeleri increased its net profit by 75 percent

Martı Otel İşletmeleri

Martı Otel İşletmeleri A.Ş. announced its third quarter (April 01, 2023 – December 31, 2023) consolidated financial statements for the special accounting period. In the first three quarters, compared to the same period of the previous year; the company increased its sales by 72 percent to 596.5 million TL. In the same period, Martı Otel İşletmeleri A.Ş. recorded a 102 percent increase in gross profitability and increased its consolidated net profit for the period by 75 percent to 200.3 million TL.

Martı Otel İşletmeleri A.Ş., a well-established company in Turkey’s tourism sector, announced its third quarter financial statements for the year 2023 with an announcement on KAP. The company, which carried out extensive renovation works in its accommodation facilities last winter, was seen to have positive ratios and figures in its third quarter financial statements for the special accounting period covering March 01, 2023 – December 31, 2023.

Consolidated net profit for the period increased by 75 percent to TL 200.3 million

In the first three quarters of the special accounting period of 2023, Martı Otel İşletmeleri A.Ş. increased its consolidated turnover by 72% from 346.5 million TL to 596.5 million TL, its gross profit for the period by 102% from 133.6 million TL to 269.6 million TL, and its net profit for the period by 75% from 114.3 million TL to 200.3 million TL.

The Company recorded an increase in Total Resources and Shareholders’ Equity

In the first three quarters of the company, according to the previous special period year-end consolidated data covering the period between April 1, 2022 and March 31, 2023; Equity increased by 87 percent from TL 4.09 billion to TL 7.6 billion, Total Resources increased by 75 percent from TL 6.6 billion to TL 11.6 billion, and Consolidated Fixed Assets increased by 82 percent from TL 6.2 billion to TL 11.4 billion.

Reduced short-term debt ratio and improved debt/equity ratio

In the consolidated financial statement published on KAP, it was seen that in the third quarter accounting period covering April 01, 2023 – December 31, 2023, the company reduced its short-term debts, increased its liquidity and recorded a positive improvement of 16 percent in the debt / equity ratio compared to the year-end data of the previous special accounting period.

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