Akenerji Declines to Month Low on Wider-Than-Estimated Loss

Akenerji Elektrik Uretim AS (AKENR) , the utility owned by CEZ AS (CEZ) and Akkok Group, fell to its lowest in almost a month after reporting its full-year loss that was bigger than analysts expected.

The shares dropped 0.9 percent to 2.2 liras at 4:43 p.m. in Istanbul, headed for the lowest close since Feb. 3.

The loss widened to 211 million liras ($121 million) last year from 26.4 million liras a year earlier, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday. That was more than the 93.5 million liras average of 17 analyst estimates 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