Cimsa Falls 3rd Day in Istanbul as 2011 Profit Misses Estimates
Cimsa Cimento Sanayi & Ticaret AS (CIMSA), 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 (SAHOL), is Turkey’s fifth-largest cement producer by market value and third largest by revenue, according to data compiled by Bloomberg.
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