Koc Holding Net Profit Rises; Above Expectations
26 August 2011 - 12:21PM
Dow Jones News
Koc Holding AS (KCHOL.IS), Turkey's largest conglomerate by
sales, reported Thursday a 37% rise in second-quarter net profit,
mainly supported by the net income of its subsidiaries in the
energy sector.
The company's net profit for the three months rose to 557.2
million Turkish lira ($317.5 million) from TRY406.8 million a year
earlier, according to a statement on the Istanbul Stock Exchange's
website.
The result was above the market consensus of TRY481 million.
Sales rose 42% to TRY17.47 billion from TRY12.27 billion.
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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