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Mish Dekorasyon Sanayi ve Ticaret Q3 loss widens 18.3% YOY

Mish Dekorasyon Sanayi ve Ticaret AS said its third-quarter normalized net income came to a loss of 6 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 1.4 million lira, compared with a loss of 1.2 million lira in the year-earlier period.

The normalized profit margin declined to negative 99.6% from negative 41.5% in the year-earlier period.

Total revenue fell 50.7% on an annual basis to 1.4 million lira from 2.8 million lira, and total operating expenses decreased 43.1% on an annual basis to 2.7 million lira from 4.7 million lira.

Reported net income came to a loss of 2.2 million lira, or a loss of 10 kurus per share, compared to a loss of 2.0 million lira, or a loss of 9 kurus per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 2.92 Turkish lira.