Turkey's Tupras' shares rise as increased refinery margins lift Q2 profits
BUZZ-Turkey's Tupras' shares rise as increased refinery margins lift Q2 profits ** Shares in Turkey's Tupras TUPRS.IS rise around 4.4% after company posted Q2 net profit above expectations
** Turkish refiner posted 45.87 billion lira ($964.21 million) net profit in Q2, up around 290% year-on-year and above market expectations of 30.67 billion lira
** Company also lifted its 2026 net refinery margin guideline from $6-$7/bbl to $13-$15/bbl
** Broker Is Yatirim says high product margins and successful crude supply management helped company achieve a historic quarter
** Is Yatirim says it expects above expectation EBITDA and net profit to reflect positively to company's stocks
** Company's stock is up 66% year-to-date
** Company is the best performer in Istanbul's BIST-100 .XU100 index
($1 = 47.5727 liras)
(Reporting by Mirac Eren Dereli)
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Turkey's Tupras' shares rise as increased refinery margins lift Q2 profits