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Ulaslar Turizm Q2 loss narrows YOY

Ulaslar Turizm Yatirimlari ve Dayanikli Tüketim Mallari Ticaret Pazarlama AS said its normalized net income for the second quarter came to a loss of 5 kurus per share, compared with a loss of 10 kurus 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 563,320 lira, compared with a loss of 1.1 million lira in the prior-year period.

Total revenue fell 99.1% on an annual basis to 6,710 lira from 733,860 lira, and total operating expenses fell 71.9% from the prior-year period to 539,630 lira from 1.9 million lira.

Reported net income totaled a loss of 880,040 lira, or a loss of 8 kurus per share, compared to a loss of 1.8 million lira, or a loss of 16 kurus per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.