Koza Altin Gains After First-Quarter Profit in Tax Filing

Koza Altin Isletmeleri AS (KOZAL), a Turkish gold miner, climbed after saying first-quarter profit was 216.7 million liras ($120 million) in a filing for tax purposes only to the Istanbul Stock Exchange today.

Koza Altin rose 1.8 percent to 33.90 liras at the close in Istanbul, the highest level since May 3.

Profit statements for tax purposes in Turkey are not necessarily indicative of a company’s full earnings, which comply with international accounting rules and are due to be reported later this month.

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

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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