Sabanci Holding slips as 2023 profit drops

Haci Omer Sabanci Holding

03/04/2024 09:24

** Shares in Sabanci Holding  SAHOL.IS  are down around 4%
after the Turkey-based holding company reported a drop in its
2023 profit
    ** Sabanci Holding reports FY net profit at 15.43 billion
lira compared to profit of 39.42 billion lira year ago
    ** Brokerage Yatirim Finansman said net income drop was
driven by lower income in banking and non-banking operations
    ** "We expect market reaction to results to be negative 
today mainly due negative impacts of IAS29 application on
SAHOL's bottom line" Yatirim Finansman says   
    ** Sabanci Holding's shares are among the worst performers
on Istanbul's main BIST 100 index  .XU100 , which is down 0.81%
 

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