Refile: BUZZ-Turkey's Coca-Cola Icecek falls after Q3 miss, guidance cut

Coca-Cola Icecek AS

05/11/2024 09:34

(Refiles company RIC)
** Shares in Coca-Cola Icecek  CCOLA.IS  fall around 6% after
the Turkey-based beverage distributor announced
lower-than-expected results and cut guidance for the second time
in a year
    ** Q3 net profit falls 61.4% y/y, which Halk Yatirim says is
below market estimates 
** The brokerage notes the accelerated contraction in
international operations, which along with the management's
downward revision of outlook, hit share price performance
** Brokerage Deniz Yatırım points to sharp decline in sales
volume and sales revenue, increasing net debt balance 
    ** J.P.Morgan says it expects two more challenging quarters
for Coca-Cola Icecek due to slowdown in Turkey
       ** The stocks is the second-worst performer on Turkey's
BIST-100  .XU100  index and hits its lowest price since January
     

(Reporting by Miraç Eren Dereli, Canan Sevgili)
((mailto:miraceren.dereli@thomsonreuters.com;))