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Balatacilar Balatacilik H1 loss widens YOY

Balatacilar Balatacilik Sanayi Ve TAS said its first-half normalized net income amounted to a loss of 6 kurus per share, compared with a loss of 3 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 781,570 lira, compared with a loss of 296,170 lira in the year-earlier period.

Total revenue decreased 15.1% year over year to 7.6 million lira from 8.9 million lira, and total operating expenses decreased 10.8% from the prior-year period to 7.4 million lira from 8.2 million lira.

Reported net income totaled a loss of 1.4 million lira, or a loss of 11 kurus per share, compared to a loss of 173,070 lira, or a loss of 2 kurus per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.