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Turkish companies continued Friday to reveal their second-quarter results as Koç, Turkey’s largest group by revenue, posted 557.2 million Turkish Liras in profit, while Doğan Holding, which owns the Hürriyet Daily News, said its consolidated loss stood at 472.9 million liras due to payments for tax restructuring.
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Net income of Koç Holding rose to 557.2 million liras in the second quarter, compared with 406.9 million liras in the same period of last year, according to company’s statement to Istanbul Stock Exchange, or ISE, on Friday. The 37 percent increase in profits from the same period last year was due to high sales volume in automotive and durable consumer goods, the group said.
Tüpraş, Yapı Kredi Bank, Arçelik, Ford Otosan, Tofaş and Aygaz are among Koç subsidiaries.
Doğan Holding’s consolidated revenue, meanwhile, increased 13 percent in the first half of the year compared with the same period in 2010, reaching 1.49 billion liras. However, company’s net losses stood at 673 million liras in the first half of the year due to expenses amounting to 933 million liras set aside through restructured tax debts.
The second quarter profits of Koza Anadolu Metal Madencilik, a domestic mining company, fell to 21.2 million liras from 38.1 million liras in the same period of last year, according to company’s statement to ISE.
A day earlier, Sabancı Holding, Turkey’ second biggest group of companies, posted a net profit worth 1.104 billion Turkish Liras in the first half of this year. |
Source : hurriyetdailynews.com
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