Coca-Cola Icecek Third Quarter Profit Slides, Misses Estimate

Coca-Cola Icecek AS (CCOLA), a bottler of coke drinks in Turkey and adjacent countries, said profit in the third quarter more than halved.

Net income at Coca-Cola Icecek was 64.8 million liras compared with 156.7 million liras in the third quarter of last year, the company said in a filing with the Istanbul Stock Exchange today. Profit was expected to be 81.1 million liras, according to the average estimate of 10 analysts in a Bloomberg survey.

Financial expenses from non-core operations surged more than four-fold to 123.5 million liras.

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