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Besiktas Futbol Yatirimlari fiscal Q3 loss narrows YOY

Besiktas Futbol Yatirimlari Sanayi ve Ticaret A.S. said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to a loss of 6 kurus per share, compared with a loss of 11 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 15.0 million lira, compared with a loss of 26.6 million lira in the prior-year period.

The normalized profit margin rose to negative 18.5% from negative 46.6% in the year-earlier period.

Total revenue grew 42.0% on an annual basis to 81.0 million lira from 57.1 million lira, and total operating expenses grew 17.6% from the prior-year period to 79.6 million lira from 67.7 million lira.

Reported net income came to a loss of 23.9 million lira, or a loss of 10 kurus per share, compared to a loss of 42.6 million lira, or a loss of 18 kurus per share, in the year-earlier period.

As of April 11, US$1 was equivalent to 2.83 Turkish lira.