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Yunsa Yunlu swings to loss in Q2

Yünsa Yünlü Sanayi ve Ticaret A.S. said its second-quarter normalized net income was a loss of 10 kurus per share, compared with 3 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 2.9 million lira, compared with income of 743,010 lira in the prior-year period.

The normalized profit margin declined to negative 4.8% from 1.1% in the year-earlier period.

Total revenue fell 15.6% year over year to 59.7 million lira from 70.7 million lira, and total operating expenses fell 10.5% year over year to 60.5 million lira from 67.5 million lira.

Reported net income came to a loss of 4.4 million lira, or a loss of 15 kurus per share, compared to income of 894,850 lira, or 3 kurus per share, in the prior-year period.

As of Aug. 4, US$1 was equivalent to 3.02 Turkish lira.