BGC Partners: TTRAK - Positive: Jul-19 trade data, slow recovery in domestic shipments(-2% y/y, +24% m/m), solid exports (+24% y/y, +22% m/m),
Turk Traktor announces July trade data showing now 2% contraction y/y in domestic sales and 24% increase y/y in exports; positive… We view the July data as positive because the rate of contraction in the domestic market is much smaller now – granted due to base effect now kicking in- which confirms the reiteration of the company’s domestic market/domestic sales guidance in the aftermath of the 2Q19 results last week. Strong July exports also appear to justify the slight upward revision to guidance last week.Turk Traktor Ve Ziraat Makineleri is engaged in the manufacturing of agricultural machinery, such as tractors, harvesting machinery and earth moving machinery, and its allied parts, including gearboxes, transmission boxes, engine blocks, cylinder heads and hydraulic lifters. Co. sells New Holland and Case IH branded vehicles and equipments. Co. exports its products to over 50 countries.
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
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.