08 November 2005 -

Report Summary

Turk Traktor disclosed US$ 48.8 mn net income for 9M05, which is significantly higher than our net income estimation of US$ 30.0 mn and very much in line with its 9M04 net earnings of US$ 48.9 mn. 35% increase at other operating income led to deviation of the company’s actual net profit from our estimation. Turk Traktor achieved 31% q-o-q growth at its net income to US$ 21.4 mn in 3Q05 from US$ 16.3 mn in 2Q05.

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