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Karsusan Karadeniz Su íœrünleri Q1 loss widens 35.6% YOY

Karsusan Karadeniz Su Ürünleri Sanayii AS said its first-quarter normalized net income amounted to a loss of 20 kurus per share, compared with a loss of 15 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 983,170 lira, compared with a loss of 724,810 lira in the year-earlier period.

The normalized profit margin dropped to negative 292.7% from negative 27.4% in the year-earlier period.

Total revenue fell 87.2% on an annual basis to 338,500 lira from 2.6 million lira, and total operating expenses fell 28.0% on an annual basis to 2.0 million lira from 2.8 million lira.

Reported net income came to a loss of 1.8 million lira, or a loss of 37 kurus per share, compared to a loss of 1.2 million lira, or a loss of 25 kurus per share, in the year-earlier period.

As of May 7, US$1 was equivalent to 2.69 Turkish lira.