Koc Holding's 9-month profits reach nearly $1B

By Gokhan Ergocun

ANKARA (AA) – The consolidated sales of Koc Holding, a prominent Turkish conglomerate, reached 71.34 billion Turkish liras ($18.44 billion) with a 64.41 percent year-on-year increase in the first nine months of 2017, it announced Thursday.

Its sales valued 43.39 billion Turkish liras ($12.86 billion) during the same period last year, according to a statement.

The net profit attributed to equity holders of the parent firm hit 3.81 billion Turkish liras ($990 million) during the period.

Its operating profit was 8.15 billion Turkish liras ($2.1 billion) during the period.

Koc’s total assets which were 88.07 billion Turkish liras ($22.76 billion) at the end of 2016, also reached over 100 billion Turkish liras ($25.85 billion) as of Sep. 30.

Meanwhile on Tuesday, Sabanci Holding announced its sales had reached 29.70 billion Turkish liras ($7.67 billion), with a 15.4 percent year-on-year increase in the first nine months of 2017.

The net profit attributed to equity holders of the parent firm hit 2.34 billion Turkish liras ($604.93) during the period.

Its operational profitability valued 6.66 billion Turkish liras ($1.72 billion) and total assets were 327.34 billion Turkish liras ($84.62 billion) during the third quarter of 2017.