Ford Otosan Q1 net profit rises 15 percent, beats expectations

ISTANBUL, April 29 Tue Apr 29, 2014 1:14am EDT

ISTANBUL, April 29 (Reuters) - Turkish automaker Ford Otosan's net profit rose 15 percent year-on-year in the first quarter to 202.5 million lira ($95.3 million), its results showed, far exceeding a Reuters poll forecast of 84.4 million lira.

The company, a partnership between Ford Motor Co and Turkey's Koc Holding, said sales fell 20.4 percent to 2.046 billion lira in the first quarter. ($1 = 2.1256 Turkish Liras) (Reporting by Ebru Tuncay; Editing by Daren Butler)

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