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UPDATE 1-Turkish Enka says Q3 net profit 100 mln lira

Fri Nov 14, 2008 1:43pm EST

Stocks

   

* Q3 sales 2.38 bln lira vs 1.3 bln a year ago

* Q3 net profit 100 mln lira, vs 195.4 mln

(Adds details, background)

ISTANBUL, Nov 14 (Reuters) - Turkish construction-to-energy company Enka Insaat (ENKAI.IS) posted a net profit of 100 million lira ($62.1 million) in the third quarter, down from 195.4 million lira in the same period last year.

In a statement on its website the company showed third-quarter sales at 2.38 billion lira, 40 percent higher year-on-year from the 1.7 billion lira posted last year.

The company said risks to pricing included those stemming from the exchange rate.

The lira has lost approximately a third of its value this year due to volatility in the foreign exchange market.

At the end of the third quarter, total assets were 10.4 billion lira, up from 9.16 billion lira a year ago. (Editing by Will Waterman)



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