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Merko Gida swings to loss in Q3

4912858 said its third-quarter normalized net income amounted to a loss of 1.2 million lira, compared with income of 55,010 lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 6.8% from 0.3% in the year-earlier period.

Total revenue fell 10.1% on an annual basis to 17.7 million lira from 19.7 million lira, and total operating expenses climbed 11.2% from the prior-year period to 18.8 million lira from 16.9 million lira.

eported net income came to a loss of 1.7 million lira, Merko Gida Sanayi ve Ticaret A.S.