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Ulaslar Turizm Q1 loss widens YOY

Ulaslar Turizm Yatirimlari ve Dayanikli Tüketim Mallari Ticaret Pazarlama AS said its first-quarter normalized net income was a loss of 13 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 1.5 million lira, compared with a loss of 520,320 lira in the year-earlier period.

Total revenue increased on an annual basis to 6,100 lira from 6,010 lira, and total operating expenses grew 21.2% on an annual basis to 658,390 lira from 543,060 lira.

Reported net income totaled a loss of 2.3 million lira, or a loss of 21 kurus per share, compared to a loss of 821,550 lira, or a loss of 7 kurus per share, in the year-earlier period.

As of April 30, US$1 was equivalent to 2.68 Turkish lira.