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Balatacilar Balatacilik H1 loss narrows YOY

Balatacilar Balatacilik Sanayi Ve TAS said its first-half normalized net income amounted to a loss of 2 kurus per share, compared with a loss of 5 kurus per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 200,890 lira, compared with a loss of 550,320 lira in the year-earlier period.

Total revenue rose 33.7% year over year to 8.9 million lira from 6.7 million lira, and total operating expenses rose 15.8% from the prior-year period to 7.9 million lira from 6.8 million lira.

Reported net income totaled a loss of 173,070 lira, or a loss of 2 kurus per share, compared to a loss of 930,020 lira, or a loss of 9 kurus per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.