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Mish Dekorasyon Sanayi ve Ticaret Q1 loss widens YOY

Mish Dekorasyon Sanayi ve Ticaret AS said its normalized net income for the first quarter came to a loss of 5 kurus per share, compared with a loss of 2 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 1.1 million lira, compared with a loss of 529,750 lira in the year-earlier period.

The normalized profit margin climbed to negative 64.4% from negative 164.4% in the year-earlier period.

Total revenue climbed on an annual basis to 1.7 million lira from 322,320 lira, and total operating expenses climbed year over year to 2.8 million lira from 1.2 million lira.

Reported net income came to a loss of 1.7 million lira, or a loss of 8 kurus per share, compared to a loss of 804,140 lira, or a loss of 4 kurus per share, in the prior-year period.

As of May 18, US$1 was equivalent to 2.58 Turkish lira.