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Fenerbahe Futbol fiscal Q2 loss narrows YOY

Fenerbahçe Futbol A.S. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, came to a loss of 85 kurus per share, compared with a loss of 94 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 21.3 million lira, compared with a loss of 23.5 million lira in the prior-year period.

The normalized profit margin climbed to negative 17.7% from negative 29.2% in the year-earlier period.

Total revenue increased 47.0% on an annual basis to 118.2 million lira from 80.4 million lira, and total operating expenses grew 45.5% year over year to 147.9 million lira from 101.7 million lira.

Reported net income totaled a loss of 34.2 million lira, or a loss of 1.37 lira per share, compared to a loss of 37.5 million lira, or a loss of 1.50 lira per share, in the year-earlier period.

As of Jan. 19, US$1 was equivalent to 3.04 Turkish lira.