Analyst Research Report Snapshot

Title:

IS YATIRIM MENKUL DEGERLER - EXCELLENT H1

Price:

$10.00

Provider:

Edison Investment Research

Date:

10 Sep 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ISMEN.IS

Available for Immediate Download
Summary:

Building on Q109, Is Yatirim reported excellent H109 results, with net profit of TRY34m and shareholders’ equity of TRY296m (up 22.5% y-o-y). It has continued to increase its market share in equities and has strongly grown derivative income and asset management income. The strong performance of the ISE has meant investment income has recovered sharply. The re-deploying of shareholders’ capital into more profitable revenue lines has seen growth in return to shareholders. Despite its robust recent performance, the stock still trades on a 4.4x P/E, 0.8x P/BV with an ROE of 18.5% on 2009 forecasts.

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