Koc Holding Net Profit Surges On Rising Sales
March 09 2012 - 3:00AM
Dow Jones News
Koc Holding AS (KCHOL.IS), Turkey's largest conglomerate by
sales, reported Friday a 52% rise in fourth-quarter net profit on
higher sales.
The company's net profit for the fourth-quarter rose to 471.6
million Turkish lira ($264.4 million) from TRY309.7 million for the
year earlier period, according to a statement on the Istanbul Stock
Exchange's website.
Sales rose 37% to TRY19.15 billion from TRY13.98 billion.
The company's full-year 2011 net profit rose to TRY2.1 billion
from TRY1.7 billion a year earlier.
Koc Holding operates in five main segments: energy, automotive,
consumer durables, finance and others.
Companies operating under Koc Holding include Ford Otomotiv
Sanayii AS (FROTO.IS), or Ford Otosan, and Tofas (TOASO.IS) in the
automotive sector; Arcelik (ARCLK.IS), Beko and Demirdokum in the
durable goods sector; Aygaz (AYGAZ.IS) and Opet in the energy
sector; Tansas and Tat in the food and retail industry; and Yapi
Kredi (YKBNK.IS) and Koc Finansal in the financial services
industry.
-By Yeliz Candemir, Dow Jones Newswires, +90 535 432 05 91;
yeliz.candemir@dowjones.com
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