BGC Partners - Bizim Toptan Satis Magazalari AS (BIZIM) BGC PARTNERS - BIZIM 4Q17 - BETTER

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BGC Partners

Berna Kurbay

EUR 68.40 For Business Accounts Only

BGC PARTNERS - BIZIM 4Q17 - BETTER

Bizim Toptan reported 4Q17 net profit of TL0.2mn (vs. net loss of TL10.2mn in 4Q16), slightly better than expectations. The company announced that it will not distribute dividends in 2017 due to the TL30mn net loss for the full year. We maintain HOLD rating with a 12-mth target price of TL8.0/sh.

01/03/2018 3 EN

Underlying

Bizim Toptan Satis Magazalari AS

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TREBZMT00017 Istanbul Stock Exchange Turkey

Provider

BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

Mergers & Acquisitions
Equity Capital Markets
Debt Finance & Advisory

See profile

Analysts

Berna Kurbay

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BGC Partners: TURKEY - Central Government Budget continued to improve in February

Finance Ministry released February Central Government budget figures and the data showed further improvement in budget balances, as already suggested by the Treasury cash budget figures.

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BGC PARTNERS - BIZIM 4Q17 - BETTER

Turkish Food Retailers

The Rear-View Mirror – EME markets: Turkey still on top (resend)

Turkish Food Retailers

BGC Partners: TURKEY - Central Government Budget continued to improve in February

BGC Partners: TURKEY - CBT Expectation Survey: No major change in inflation forecasts and a 50bps rate cut expectation from the CBT next week...

BGC Partners: TURKEY - Retail sales volume maintained a strong trend in January

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