Turk Telekom Group's annual sales up by 12.9 pct in 2017

Turk Telekom Group's annual sales up by 12.9 pct in 2017

The turkish giant, Turk Telekom Group announced on Friday, February 9, that it saw its annual sales revenues reaching 18.14 billion Turkish liras ($4.96 billion) in 2017.

Turk Telekom entered the stock market in 2008. This is the first time ever since that the company is enjoying this great a hike.

Anadolu reports that "Consolidated revenues (...) rose by 12.9 percent on a yearly basis (...) up from 16.11 billion Turkish liras ($5.32 billion) in 2016."

It adds that its although 2016 net loss was 724 million liras ($238.94 million), the 2017 net profit "amounted to 1.14 billion Turkish liras ($311.23 million)".

According to the company, the impressive improvement is a result of "stronger operating performance and more moderate foreign exchange movements during 2017 compared to 2016."

Formerly state-owned TT is now privatised to Oger Telecom, that owns the highest percentage (55%) of the Turkish colossus' shares; the Turkish Treasury (25 percent) and the Turkiye Wealth Fund (6.68 percent) come next.

The remaining 13.32% are offered to the public that can trade them in the Turkish stock exchange market, Borsa Istanbul.../IBNA

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