Koç’s profits jump 22 percent in 2011

Koç’s profits jump 22 percent in 2011

ISTANBUL - Anatolia News Agency
Koç’s profits jump 22 percent in 2011

Turgay Durak

Koç Holding’s net profits increased 22 percent to 2.124 billion Turkish Liras, and its consolidated total sales revenues increased 41 percent to 75.7 billion liras in 2011.

Chief Executive Officer Turgay Durak said despite the low, 1.6 percent growth in the eurozone, Turkey was able to achieve an 8 percent growth rate in 2011, and Koç Holding’s performance exceeded that of the Turkish economy in general in all the sectors in which it is active.

Koç Holding’s revenues from abroad were up 34 percent from 2010 at $17.9 billion. In terms of exports, Koç Holding’s Tüpraş was Turkey’s export leader, followed by Ford Otosan, Tofas and Arçelik, according to Durak.

“Koç Holding’s companies accounted for almost all of Turkey’s petrol and petrol product exports, half of its automobile and light commercial vehicle exports and a third of electronics exports,” Durak said.

The company plans to increase its total investments two-fold in 2012, registering a record year with 6.5 billion liras of investment. Koç Holding also expected to achieve a 9 percent growth rate, while increasing its exports by 6 percent, Durak said.