Credit Suisse analyst Onur Muminoglu reports that the precipitous fall in Turkish tourism in recent years continued to hit Turkish companies hard in Q1. Of the 13 major consumer-related Turkish companies under Credit Suisse’s coverage, only four managed to beat consensus EBITDA expectations in the most recent quarter.
“Weak tourism activity and the unrest in big cities after terrorist attacks hurt the operating performance in airlines and beverages,” Muminoglu noted.
/www.benzinga.com/analyst-ratings/analyst-color/16/05/8001556/the-market-impacts-from-the-turkish-tourism-collapse alt=The Market Impacts From The Turkish Tourism Collapse>Full story available on Benzinga.com
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