Marti Otel Isletmeleri AS said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 35 kurus per share, compared with a loss of 24 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 30.6 million lira, compared with a loss of 21.0 million lira in the prior-year period.
Total revenue rose 12.7% year over year to 8.3 million lira from 7.4 million lira, and total operating expenses increased 51.7% on an annual basis to 30.4 million lira from 20.0 million lira.
Reported net income totaled a loss of 34.5 million lira, or a loss of 40 kurus per share, compared to a loss of 10.4 million lira, or a loss of 12 kurus per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of 46 kurus per share, compared with a loss of 42 kurus per share in the prior year.
Normalized net income was a loss of 40.2 million lira, compared with a loss of 36.6 million lira in the prior year.
Full-year total revenue rose 18.7% year over year to 115.5 million lira from 97.3 million lira, and total operating expenses rose 26.0% on an annual basis to 127.3 million lira from 101.0 million lira.
The company said reported net income totaled a loss of 48.7 million lira, or a loss of 56 kurus per share, in the full year, compared with a loss of 40.6 million lira, or a loss of 47 kurus per share, the prior year.
As of June 9, US$1 was equivalent to 2.76 Turkish lira.
