By Yeliz Candemir
ISTANBUL--Turk Telekomunikasyon AS (TTKOM.IS) reported late
Wednesday a 55% decline in second-quarter net profit due to
foreign-exchange losses, though the result was slightly above
analyst expectations.
Net profit totaled 280.2 million Turkish lira ($146.4 million),
above TRY257 million forecast of five analysts surveyed by Dow
Jones Newswires, but below the TRY629.5 million profit posted a
year earlier.
Sales income rose to TRY3.36 billion from TRY3.18 billion,
according to a statement to the Istanbul stock exchange.
"Second-quarter earnings of Turk Telekom did not surprise the
markets; the company posted TRY445 million net financial losses in
the second quarter driven by forex losses, which pulled down net
margin to 8% from 20% in the second quarter of 2012," said
Istanbul-based Tera Brokers.
Write to Yeliz Candemir at yeliz.candemir@dowjones.com
Order free Annual Report for Türk Telekomünikasyon AS
Visit http://djnweurope.ar.wilink.com/?ticker=TRETTLK00013 or
call +44 (0)208 391 6028
Order free Annual Report for Türk Telekomünikasyon AS
Visit http://djnweurope.ar.wilink.com/?ticker=US90011Q1004 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires