Markets News

DP Eurasia earnings slump on Russia, coronavirus costs

Sept 8 (Reuters) - DP Eurasia , which runs Domino’s Pizza brand in Turkey and Russia, reported a 74% fall in first-half core profit on Tuesday as its Russian operations took a hit and it had to increase costs due to the coronavirus pandemic.

The biggest pizza delivery chain in Turkey and third-largest in Russia said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), excluding the effect of the IFRS 16 accounting standards, slumped to 12.1 million Turkish lira ($1.62 million) from 46.4 million lira a year before.

The London-listed company reported adjusted net loss, excluding IFRS 16 effects, of 57.4 million lira after an adjusted net loss of 7.4 million lira in 2019.

$1 = 7.4582 liras Reporting by Anna Pruchnicka; Editing by Tomasz Janowski