Ford Otosan shares rise as Q2 results beat expectations

Ford Otomotiv Sanayi AS

29/07/2022 09:21

** Shares in Turkey's Ford Otosan  FROTO.IS  jump 4.2% after
Q2 results  urn:newsml:reuters.com:*:nL8N2ZA12J
    ** The Turkish car maker reported quarterly net profit
rising to 3.70 billion lira compared to 999.2 million lira in
the same period a year ago
    ** Both Credit Suisse and Yatırım Finansman Securities point
to results ahead of expectations
    ** "Net income 18% above consensus (...) through strong
operating line," Credit Suisse notes
    ** The company trimmed its guidance but CS says it's still
+7% more optimistic than the broker's forecast
    ** The stock is the top performer on BIST 100 index
 .XU100 , which is up 0.47%

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