Turkey’s leading industrial conglomerate Koc Holding has posted a net profit of 1.73 billion Turkish liras for the year 2010. (1 USD equals 1.5870 TL)
Koc Holding’s profit has grown by 21 percent compared to 2010, a written statement from the company said on Friday.
The holding’s consolidated sales income reached 53.8 billion TL, while it provided 5,000 additional employment opportunities thanks to a combined investment of 1.8 billion TL, increasing the number of its employees to 73,000, the statement noted.
Commenting on the performance of group companies, Koc Holding’s CEO Turgay Durak said that Turkish Petroleum Refineries Corporation (TUPRAS) had achieved its profitability goals despite the problems in global refining sector, while the group’s liquefied petroleum gas (LPG) supplier Aygaz had managed to maintain its 30 percent market share, and fuel retailer OPET had made a 277 million USD investment and increased its market share to 17 percent.
Durak also said Turkey’s leading bank Yapi Kredi Bankasi had recorded the highest increase in the sector in terms of net consolidated profit.
Houselhold appliances manufacturer Arcelik continued its leadership in white-goods, air-conditioning and TV market in 2010, as Koc Holding’s automotive companies had a 50 percent share from Turkey’s automotive exports and 52 percent from production, Durak noted.
Founded in 1926, Koc Holding is not only one of the largest and most successful group of companies in Turkey, but also in Europe.
A leader both in domestic and international markets and among the top 50 public companies in Europe and the top 200 in the world, Koc Holding has grown by an average of 31 percent (in USD) in the last 5 years.
The group mainly focuses its operations on energy, automotive, durable goods and finance sectors.