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Iz Hayvancilik Tarim H1 loss widens YOY

Iz Hayvancilik Tarim ve Gida Sanayi Ticaret AS said its first-half normalized net income came to a loss of 174,610 lira, compared with a loss of 26,390 lira in the year-earlier period.

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

Total revenue increased 72.3% year over year to 7.7 million lira from 4.4 million lira, and total operating expenses rose 68.7% year over year to 7.2 million lira from 4.3 million lira.

Reported net income totaled a loss of 19,630 lira, or a loss of 0 kurus per share, compared to income of 214,100 lira, or 3 kurus per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.