Boyner Perakende ve Tekstil Yatirimlari AS said its normalized net income for the third quarter was a loss of 1.42 Turkish lira per share, compared with a loss of 1.98 lira 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 82.0 million lira, compared with a loss of 79.3 million lira in the year-earlier period.

The normalized profit margin increased to negative 9.6% from negative 10.2% in the year-earlier period.

Total revenue increased 10.5% year over year to 856.3 million lira from 774.7 million lira, and total operating expenses rose 12.4% on an annual basis to 859.3 million lira from 764.8 million lira.

Reported net income came to a loss of 138.1 million lira, or a loss of 2.39 lira per share, compared to a loss of 125.1 million lira, or a loss of 3.13 lira per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 2.92 Turkish lira.