Turk Telekom net profit rises sharply in second quarter

By Gokhan Ergocun

ANKARA (AA) - Turk Telekom -- Turkey's communications and technology group -- made 890 million Turkish liras (approximately $248.6 million) net profit in the second quarter of this year, the company announced Wednesday.

The amount is two-and-a-half times higher compared with same period of 2016.

The company's second quarter revenue surged by 14.2 percent to reach 4.5 billion liras (some $1.25 billion) in the second quarter of the year compared with the same period of the previous year, according to a company statement.

Turk Telekom's revenue reached 8.8 billion liras (around $2.41 billion) in the first six months of this year, the statement said.

The company's total number of subscribers reached 39.6 million with an increase of 350,000 in the second quarter, Turk Telekom Chief Executive Officer Dr. Paul Doany said.

Following positive developments in the Turkish economy, Doany said: "We continue to grow and we have achieved exceptional operational and financial results in the second quarter, exceeding our targets."

Turk Telekom grew over our expectations in the second quarter of the year, he added.

"We have revised our growth forecasts for 2017 in the direction of our belief in the Turkish economy."