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Ulaslar Turizm Q3 loss widens 39.8% YOY

Ulaslar Turizm Yatirimlari ve Dayanikli Tüketim Mallari Ticaret Pazarlama AS said its normalized net income for the third quarter was a loss of 6 kurus per share, compared with a loss of 4 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 668,340 lira, compared with a loss of 478,080 lira in the year-earlier period.

Total revenue declined 99.8% year over year to 6,840 lira from 3.8 million lira, and total operating expenses fell 86.6% from the prior-year period to 376,510 lira from 2.8 million lira.

Reported net income totaled a loss of 1.0 million lira, or a loss of 9 kurus per share, compared to a loss of 704,810 lira, or a loss of 6 kurus per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 3.11 Turkish lira.