Bloomberg News

Anadolu Cam Drops Most This Year as Misses Profit Estimate

May 18, 2012

Anadolu Cam Sanayii AS (ANACM), a Turkish glassmaker, fell the most this year after saying first-quarter profit declined, missing estimates.

Anadolu Cam lost 3.1 percent to 2.79 liras at the close in Istanbul, the biggest drop since Dec. 28 to the lowest level since Jan. 25.

The company’s net income declined to 10.5 million liras ($5.7 million) in the first quarter from 31.9 million liras in the same period of 2011, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday. Anadolu Cam was expected to earn 15.5 million liras, according to the average of four analyst estimates compiled by Bloomberg.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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