Arcelik Sees Growth in Q1
May 23, 2005
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Arcelik's after-tax consolidated net profit for the first quarter of the year has been recorded as 68 million New Turkish Liras (approx. U.S. $49.0 million). An announcement by the Turkish appliance maker stated that it has recorded 29-percent growth and a 2.7-billion euro (approx. $3.3-billion) endorsement last year and started 2005 with growth as well.

According to the announcement, the company increased its after-tax consolidated net profit in the 3-month financial period by 87 percent, from 36 million YTL (approx. $25.9 million) to 68 million YTL (approx. $49.0 million), compared to the last year.

The announcement noted that Arcelik is growing abroad by getting stronger. The company reportedly controls more than 50 percent of white goods in the domestic market and targets net sales of 3 billion euros (approx. $3.7 billion) for the year 2005. (Zaman Online)

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