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Boyner Perakende ve Tekstil Yatirimlari Q2 loss widens YOY

Boyner Perakende ve Tekstil Yatirimlari AS said its second-quarter normalized net income came to a loss of 1.80 Turkish lira per share, compared with a loss of 29 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 72.1 million lira, compared with a loss of 11.6 million lira in the prior-year period.

The normalized profit margin fell to negative 8.9% from negative 1.6% in the year-earlier period.

Total revenue rose 12.9% year over year to 811.6 million lira from 718.8 million lira, and total operating expenses grew 13.9% on an annual basis to 792.4 million lira from 695.4 million lira.

Reported net income came to a loss of 110.9 million lira, or a loss of 2.77 lira per share, compared to a loss of 18.3 million lira, or a loss of 46 kurus per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.