Sabancı Holding’s Net Profit For Six Months Try 918 Million

27.08.2010
  • SABANCI HOLDING'S NET PROFIT FOR SIX MONTHS TRY 918 MILLION
  • SABANCI HOLDING CEO ZAFER KURTUL: "WE WILL CONTINUE TO GROW CONSISTENTLY AND PROFITABLY. AS SABANCI GROUP, WE BELIEVE IN THE FUTURE OF OUR COUNTRY AND OUR INVESTMENTS WILL..

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During the first six months of 2010, Sabancı Holding achieved TRY 918 Million net profit, an increase of 52% compared to the same period of the previous year.

According to Sabancı Holding's consolidated financial statements for the six month period ending as of 30 June 2010, sales were recorded as TRY 9 Billion 802 Million while operational profits increased by 43% compared to the same period of the previous year and reached TRY 2 Billion 451 Million.

Sabancı Holding's total assets increased by 9% since the beginning of the year to reach TRY 122 Billion 496 Million as of 30th June 2010 and its equity capitals grew to TRY 21 Billion 977 Million with a 6% increase.

In a statement on the subject, Sabancı Holding CEO Zafer Kurtul noted, "In the first six months of 2010, our net profit increased by 52% compared to the first six months of the previous year, and reached TRY 918 Million. Our total assets increased by 9% since the beginning of the year to reach TRY 122.5 Million as of 30th June 2010 and our equity capitals grew to TRY 22 Million with a 6% increase.

In this period where many countries in the world are significantly hurt by the global crisis; Turkey has demonstrated a rapid recovery thanks to its powerful banking sector, fiscal discipline maintained by prudent management of its economy, the dynamism of our private sector, and the high increase in efficiency and accomplishments in foreign markets. Creating a more rapid increase in employment in our young populated country should be the primary objective.

We can observe a rise in employment thanks to the high rate growth we achieved in 2010. We forecast that our economy, which grew by almost 12% in the first three months of the year, will grow by 5% in 2010. We believe low inflation and a low real interest rate environment will help investments increase and contribute to the development of our country.

As Sabancı Group, we look to the future with confidence and we will continue to contribute to the development and growth of our country. Our aim is to increase our rate of growth in the upcoming period.

We would like to thank our shareholders, personel, and customers, all of whom contributed to our success in the first half of 2010."