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quarter, up from TRY113mn a year earlier.
In a filing with the Istanbul stock exchange, Bizim said its financing costs increased from TRY12.7mn in the third quarter of 2018 to TRY27.7mn this year.
Its financials also showed that Bizim’s 9M profit rose to TRY21.8mn this year from TRY14.7mn in January-September last year.
Revenues increased to TRY3.4bn from TRY2.7bn.
Bizim operated a total of 174 stores in Turkey’s 69 provinces as of end-September, employing more than 2,200 people.
Yildiz Holding is the largest shareholder in the company with a 55.2% stake while 35.45% of Bizim’s shares are traded on the Borsa Istanbul.
4.4 ​Labour and income
4.4.1​ Labour market, unemployment dynamics
Seasonally adjusted unemployment in Turkey hits highest-on-official-record 14.3% in June-August​. Turkey's unemployment rate grew by 3.1 pp year on year to 13.9% in the June-August period, with the seasonally adjusted rate hitting its highest level on record, according to the latest official data.
The summer 2018 lira crisis caused a recession that pushed official Turkish unemployment to a near-decade high of 14.7% in the January and February period—and it is always worth qualifying reporting on this data with “official” as many academics dispute whether or not if more fairly measured Turkey’s joblessness rates would be found to be substantially higher.
The Turkish Statistical Institute (TUIK) data shows unemployment stood at 13.0% in the May-July period.
The seasonally adjusted unemployment rate for June-August rose to 14.3%. It has never been higher since the institute's data series was started in 2005. It was up from 14.0% in the previous period. Non-agricultural unemployment rate rose to 16.5% from 15.3% a month earlier, the data showed, while youth unemployment was up 7.2 percentage points to 27.1%.
27​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com