08 August 2005 -

Report Summary

5% higher than our estimate of US$ 115.2 mn, Ford Otosan disclosed US$ 121.48 mn net income at its 1H05 IFRS financials. The company had US$ 219.98 mn net profit at 1H04 following a US$ 27.79 mn monetary gain. Our year-end net earnings estimation for the company is US$ 275.6 mn.

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