Business
Turkey-based real estate investment trust Emlak Konut drops after Q3 earnings miss
Turkey-based real estate investment trust Emlak Konut drops after Q3 earnings miss
About this update from Emlak Konut Gayrimenkul Yatirim Ortakligi A.s. 0 % Certificates 2025-31.12.2199
** Shares in Emlak Konut REIT BIST:DMLKT dropped about 3% after the company released its Q3 report** The real estate investment trust reported a Q3 net profit of 194.2 million lira ($4.63 million) down from 3.00 billion lira year ago** Brokerage Is Yatirim cites "taxes and high financing expanses weighing on net profit", significantly below the brokerage's estimate of 3.13 billion for the company's net profit** Conversely, Q3 revenue came at 14.21 billion lira versus 11.50 billion lira year ago** The brokerage states this is above their expectation of 14 billion lira** Nevertheless, Is Yatirim states they expect a "slightly negative market reaction" due to "high financing expanses and the significant decline in net profit annually"** The stock is the second worst performer on Turkey's main BIST 100 BIST:XU100 index, which is down 0.96%($1 = 41.9551 liras)