Arcelik Posts 3Q Profit Oct 29, 2009

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Arcelik reported a 3Q net profit, despite saying sales were flat. Third-quarter net profit was 152.7 million lira (approx. US$102 million), up from 240,000 lira ($182,000) year earlier. Sales were 1.749 billion lira ($1.34 million) for the period, from 1.755 billion lira ($1.3 million) in the previous period.

The company said sales increased in the quarter for refrigerators, washing machines, dishwashers, and dryers, but were down in ovens.

For 4Q 2009, it expects ongoing uncertainty and recession in the global economy, but growth in LCD TV sales in the Turkish market.

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