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BGC Partners: SOKM 2Q19 net loss was TL24mn, in line
Sok Marketler announces 2Q19 net loss as TL24mn (vs. 2Q18 net profit of TL229mn), in line with consensus expectation of net loss of TL22mn. 2Q18 bottom line at TL229mn was lifted by TL331mn of tax income in recognition of deferred tax income on prior year losses (tax loss carry forward). Otherwise, there was a loss at PBT level at TL101mn in 2Q18 and, therefore, there is in fact an improvement in profitability y/y. Sok had a negative PBT of TL34mn in 2Q19 but this is including the IFRS 16 impact. If the IFRS 16 impact is removed, comparable 2Q19 PBT was TL6.7mn and 2Q19 net profit was TL8mn.
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
Berna Kurbay
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