reports
Increasing estimates again
Is Yatirim (ISY) produced a very strong result in H117 against the backdrop of an improved political and economic environment in Turkey, which has seen a strong improvement across capital markets. With the benefit of leading market positions, ISY has seen revenues increase across all product areas with particular strength in interest and trading. Meanwhile, costs have been kept under tight control and below the level of inflation, which is running in excess of 9% pa. We have significantly increa...
- Julian Roberts
Ahead of expectations
Is Yatirim’s (ISY) Q117 results showed a strong performance by the investment banking business, driven by robust equity, debt and derivatives markets, slight increases to some commission margins as well as continued growth in AUM, particularly from higher-fee pension fund assets. Is Investment (the investment bank) posted net profits more than 50% up on Q116, which was the strongest quarter in that year. With the exception of the NPL business, all the consolidated segments beat our expectations ...
- Julian Roberts
A steady ship
Despite exceptional political events in Turkey during 2016, Is Yatirim’s (ISY) FY16 results showed that its core investment banking business performed well, contributing to strong consolidated net profits, 33% ahead of FY15. Two of its subsidiaries suffered losses but steps have been taken to reduce these in FY17 and other segments performed better than forecast against a challenging backdrop. ISY continues to have a strong balance sheet and is committed to making high distributions to sharehold...
- Julian Roberts
A steady ship
Despite exceptional political events in Turkey during 2016, Is Yatirim’s (ISY) FY16 results showed that its core investment banking business performed well, contributing to strong consolidated net profits, 33% ahead of FY15. Two of its subsidiaries suffered losses but steps have been taken to reduce these in FY17 and other segments performed better than forecast against a challenging backdrop. ISY continues to have a strong balance sheet and is committed to making high distributions to sharehold...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
- Julian Roberts
Resilience in difficult times
Although the geopolitical background in Turkey remains unsettled, some areas of Is Yatirim Menkul Degerler’s (ISY) business, notably its core investment banking activities, have performed well in Q316, posting large increases in revenue and profit over Q315. The current market valuation seems reasonable, but improvements in the economic and political climate could increase the value indicated by our model considerably, making ISY potentially attractive to investors looking beyond current uncerta...
- Andrew Mitchell
Making progress in challenging conditions
The political and economic background in Turkey has been challenging this year but some areas of Is Yatirim Menkul Degerler’s (ISY) investment banking business have seen large increases in activity in the first half and ISY has maintained its leading market positions. The current valuation seems reasonable, but a modest increase in assumed returns would increase the indicated value significantly, suggesting an opportunity for investors looking beyond near-term uncertainties.
- Andrew Mitchell
Making progress in challenging conditions
The political and economic background in Turkey has been challenging this year but some areas of Is Yatirim Menkul Degerler’s (ISY) investment banking business have seen large increases in activity in the first half and ISY has maintained its leading market positions. The current valuation seems reasonable, but a modest increase in assumed returns would increase the indicated value significantly, suggesting an opportunity for investors looking beyond near-term uncertainties.
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