November 12 (SeeNews) - Turkish food retailer Migros Ticaret [BIST:MGROS] said it turned to a consolidated net loss of 306.6 million Turkish lira ($149.3 million/111.7 million euro) in the first nine months of the year from a profit of 117.1 million lira a year ago.
The company's financial expenses surged to 421.6 million lira in the nine months through September from 4.0 million lira a year ago, while its tax expense rose 106% on the year to 48.8 million lira, the retailer said in a financial statement published on Monday.
Consolidated operating profit increased 17% year-on-year to 170.9 million lira.
Earning before interest, taxes, depreciation and amortisation rose 6.9% to 342 million lira, Migros said in a statement.
Revenue increased 9.9% to 5.3 billion lira.
Migros retained its guidance for a double-digit growth in sales for 2013.
During the period under review the company opened 142 new stores, of which 135 supermarkets, two hypermarkets and five stores under the Ramstore brand, thus raising the total number of its stores to 955 at the end of September. Four of the Ramstore outlets were opened in Macedonia and one in Kazakhstan, Migros added.
(1 euro = 2.7458 Turkish lira)