Coca Cola Icecek shares rise on better-than-expected Q4 net income

Coca-Cola Icecek AS

28/02/2023 09:25

** Shares in Turkey's Coca Cola Icecek  CCOLA.IS  are up
3.5% after Q4 net income exceeds consensus estimates
    ** The Turkey-based company, engaged in bottling and
distribution of alcohol-free beverages, reported a 180.6% jump
in Q4 net income to 649 million lira 
    ** Credit Suisse and Yatirim Finansman say quarterly net
income was above consensus expectations and ahead of both
brokers' forecasts of 326 million lira and 366 million lira
respectively 
    ** "Profit before tax was 12% ahead of our forecast, driven
by revenues and slightly better margins vs our estimates,"
Credit Suiss adds, deeming the results a "small positive"
    ** The stock is among the top performers in BIST 100 index
 .XU100 , which is up 0.5%
    

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