BGC Partners: Pinar Sut <PNSUT TI> reported a net profit of TL0.2mn in 2Q19 vs. our TL3.2mn estimate, operationally in line…
The market is difficult for producers to reflect raw material prices hikes (raw milk, packaging, energy etc.) to its end product prices due to competition (mainly from private labels and clients’ declining purchasing power). Pinar Sut posted TL400.2mn revenues in the quarter (up by 14.5% y/y), slightly above our TL381mn estimate.Pinar Sut Mamulleri Sanayii is engaged in the processing, production and sales of milk, dairy products (milk, yoghurt, ayran, traditional and modern cheeses, butter, cream), fruit juice, mayonnaise, ketchups, puddings, honey, sauces, jams and jellies, desserts, and powder products. Co. sells its products under "Pinar"brand.
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
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