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Turkish retailer Migros Ticaret run up a net loss of TRY306.6m (US$149.8m) for the first nine months of 2013 – but pointed to higher EBITDA, sales and market share.

Migros Ticaret’s loss for the period to the end of September came after a sharp increase in finance costs and compared to a TRY117.1m a year ago.

EBITDA grew 6.9% to TRY342m as sales increased 9.9% to TRY5.31bn. The retailer said it was “on target” to book a double-digit rise in sales for the whole of 2013.

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By the end of September, Migros Ticaret had 995 stores. It has opened 135 supermarkets and two hypermarkets in Turkey this year, as well as five Ramstores – four in Macedonia and one in Kazakhstan.

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