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Trabzonspor fiscal Q2 loss widens YOY

Trabzonspor Sportif Yatirim ve Futbol Isletmeciligi Ticaret A.S. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, was a loss of 30 kurus per share, compared with a loss of 42 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 29.8 million lira, compared with a loss of 10.6 million lira in the prior-year period.

The normalized profit margin fell to negative 130.4% from negative 29.1% in the year-earlier period.

Total revenue decreased 37.2% on an annual basis to 22.8 million lira from 36.4 million lira, and total operating expenses rose 45.4% year over year to 81.9 million lira from 56.3 million lira.

Reported net income came to a loss of 60.2 million lira, or a loss of 60 kurus per share, compared to a loss of 19.2 million lira, or a loss of 77 kurus per share, in the prior-year period.

As of Jan. 11, US$1 was equivalent to 3.03 Turkish lira.