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Boyner Perakende ve Tekstil Yatirimlari Q1 loss widens 98.9% YOY

Boyner Perakende ve Tekstil Yatirimlari AS said its first-quarter normalized net income amounted to a loss of 3.25 Turkish lira per share, compared with a loss of 1.63 lira per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 129.9 million lira, compared with a loss of 65.3 million lira in the prior-year period.

The normalized profit margin fell to negative 16.9% from negative 9.6% in the year-earlier period.

Total revenue rose 13.1% on an annual basis to 770.9 million lira from 681.8 million lira, and total operating expenses increased 11.6% year over year to 778.0 million lira from 697.1 million lira.

Reported net income totaled a loss of 209.8 million lira, or a loss of 5.24 lira per share, compared to a loss of 103.1 million lira, or a loss of 2.58 lira per share, in the year-earlier period.

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