08 April 2005 -

Report Summary

Turkcell posted US$ 511.8 mn net profit in its consolidated USGAAP financial statements, 21% higher than our estimate of US$ 420 mn and 13% higher than consensus estimate of US$ 449 mn. In the third quarter, the Company recorded a net income of US$ 138.6 mn, 7.9% lower than 3Q04 resutls and 879 mn sales revenue, again 9.2% lower than 3Q04 result.

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