Besiktas Futbol Yatirimlari Sanayi ve Ticaret A.S. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, was a loss of 2 kurus per share, compared with a loss of 5 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 4.9 million lira, compared with a loss of 13.0 million lira in the prior-year period.
The normalized profit margin increased to negative 5.3% from negative 19.9% in the year-earlier period.
Total revenue rose 41.9% on an annual basis to 92.7 million lira from 65.3 million lira, and total operating expenses increased 28.6% on an annual basis to 91.3 million lira from 71.0 million lira.
Reported net income totaled a loss of 7.9 million lira, or a loss of 3 kurus per share, compared to a loss of 20.7 million lira, or a loss of 9 kurus per share, in the prior-year period.
As of Jan. 19, US$1 was equivalent to 3.04 Turkish lira.
