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Esem Spor Giyim Q2 loss widens YOY

Esem Spor Giyim Sanayi Ve Ticaret AS said its second-quarter normalized net income amounted to 224,060 lira, compared with a loss of 26,990 lira in the year-earlier period.

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

The normalized profit margin declined to negative 4.9% from negative 0.3% in the year-earlier period.

Total revenue fell 45.4% on an annual basis to 4.5 million lira from 8.3 million lira, and total operating expenses declined 40.3% from the prior-year period to 4.9 million lira from 8.2 million lira.

Reported net income totaled a loss of 306,520 lira, compared with a loss of 29,820 lira in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 2.96 Turkish lira.