Turkey's Enka Insaat hits record high helped by Q1 EBITDA beat

About this update from Enka Insaat Ve Sanayi A.s.

** Shares in Enka Insaat BIST:ENKAI rise about 9%, touching their highest price ever, after the Turkish construction and engineering company reported better than expected Q1 earnings** Even though Enka posted a year-on-year net profit decline, brokerage Global Yatirim expected the stock to open higher given that the group's Q1 EBITDA of 6.49 billion lira ($167.46 million) was 4.4% above expectations** Lower than expected net profit was mainly due to a loss of 189 million lira recorded from investing activities, Global Yatirim said in a note** Enka Insaat on Friday reported Q1 net profit falling to 3.86 billion lira from 4.69 billion lira a year earlier** The stock is among best performers on Turkey's main BIST-100 index BIST:XU100, which is up around 3% amid news on Kurdistan Workers Party (PKK), a militant group in conflict with the Turkish state, deciding to dissolve itself and end its armed struggle($1 = 38.7558 liras)

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