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Trabzonspor fiscal Q3 loss narrows YOY

Trabzonspor Sportif Yatirim ve Futbol Isletmeciligi Ticaret A.S. said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to a loss of 15 kurus per share, compared with a loss of 17 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 15.3 million lira, compared with a loss of 16.8 million lira in the prior-year period.

The normalized profit margin increased to negative 42.6% from negative 58.3% in the year-earlier period.

Total revenue rose 24.1% on an annual basis to 35.8 million lira from 28.9 million lira, and total operating expenses fell year over year to 49.9 million lira from 51.4 million lira.

Reported net income totaled a loss of 15.3 million lira, or a loss of 15 kurus per share, compared to a loss of 26.6 million lira, or a loss of 27 kurus per share, in the year-earlier period.

As of March 31, US$1 was equivalent to 2.82 Turkish lira.