Arcelik falls on Q2 loss

Arcelik

31/07/2024 09:13

** Shares in Arcelik  ARCLK.IS  are down 3.54% after Turkish
household appliances manufacturer reported Q2 loss 
    ** Arcelik reports Q2 net loss of 432.4 million lira 
($13.04 million) compared to profit of 1.61 billion lira year
ago
    ** Brokerage Yatirim Finansman describes Q2 net result
"weak"
    ** Yatirim Finansman says Arcelik announced loss of 432
million lira in Q2, below consensus estimate of loss of 55
million lira 
    ** In Q2, company recorded 1.78 billion lira monetary gain
compared to 3.5 billion lira a year ago, Yatirim Finansman says 
    ** "In addition to lower monetary gain, deviation in EBITDA
was another reason for deviation from estimates despite
partially offset by 1.02 billion lira deferred tax income"
Yatirim Finansman says 
    ** Arcelik's shares are worst performer on Istanbul's main
BIST 100 index  .XU100 , which is down 0.42%



($1 = 33.1657 liras)

 (Reporting by Canan Sevgili)
 ((canan.sevgili@thomsonreuters.com))