Bagfas Falls in Istanbul After 1st-Quarter Profit Drops 31%
By -
May 4, 2012
Bagfas Bandirma Gubre Fabrikalari AS (BAGFS), a Turkish fertilizer producer, declined to the lowest level in a week after reporting first-quarter profit slumped.
Bagfas dropped 3 percent to 193 liras at the close in Istanbul, the weakest since April 26.
Net income plummeted 31 percent to 12.7 million liras ($7.2 million) from 18.4 million liras a year ago, Bagfas said in a statement to the Istanbul Stock Exchange today.
To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net