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Cimsa Falls 3rd Day in Istanbul as 2011 Profit Misses Estimates

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March 22 (Bloomberg) -- Cimsa Cimento Sanayi & Ticaret AS, a Turkish cement maker, fell for a third day after reporting full-year profit that missed estimates.

The shares dropped 1.1 percent to 9.34 liras at the close in Istanbul. The company reported yesterday a net income of 123.4 million liras ($68 million) for 2011, lagging the 129 million-lira average of 20 analysts’ estimates on Bloomberg.

Cimsa, whose biggest shareholder is Haci Omer Sabanci Holding AS, is Turkey’s fifth-largest cement producer by market value and third largest by revenue, according to data compiled by Bloomberg.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

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

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