By Yeliz Candemir
ISTANBUL--Turk Telekomunikasyon AS (TTKOM.IS) reported Wednesday
a near 1% rise in fourth-quarter net profit, but the result was
slightly below analyst expectations due to a higher cost of
sales.
Net profit totaled 599.5 million Turkish lira ($339 million),
below the TRY608 million forecast of analysts polled by Dow Jones
Newswires, and marginally above the TRY595 million profit posted a
year earlier.
Income from sales increased to TRY3.32 billion from TRY3.02
billion, according to a statement to the Istanbul Stock
Exchange.
For full-year 2012, net profit rose 28% to TRY2.64 billion from
TRY2.068 billion. Full-year income from sales rose to TRY12.7
billion from TRY11.94 billion.
Turk Telekom, which is controlled by Dubai-based Oger Telecom,
listed on the Istanbul Stock Exchange in May 2008.
Write to Yeliz Candemir at yeliz.candemir@dowjones.com
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