Ulker Biskuvi jumps as Q4 swings to bigger-than-expected profit

Ulker Biskuvi Sanayi AS

13/03/2023 07:51

** Shares of Turkey's Ulker Biskuvi  ULKER.IS  jump more
than 8% after its Q4 profit exceeds market expectations
    ** The Turkey-based food manufacturer's Q4 net result swings
to profit of 983.3 million lira ($51.82 million), compared with
loss of 1.12 billion lira a year earlier
    ** Brokerage Ziraat Yatirim says the quarterly profit beat
consensus expectation of 510 million lira and its estimate of
780 million lira
    ** Brokerage Oyak Securities says: "Stronger than expected
financials both backed by robust operational improvement,
financial investment gain of 229 million lira and positive
quarterly tax figure of 150 million lira"
    ** Ahead of market open, both brokers expected the results
to be positive for Ulker's shares
    ** The stock tops Turkey's BIST 100 index  .XU100  that
rises 0.3%

($1 = 18.9758 liras)

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