Sabanci sees 13% growth in cement business, Turkey

Sabanci sees 13% growth in cement business, Turkey
Published: 26 August 2011

Turkish conglomerate Sabanci Holding, which has interests in cement, energy and banking, said second quarter net profit rose by two thirds as performance in its non-financial units improved.

Sabanci’s net profit was TRL706.6m (US$402.6m), compared with TRL420.2m in the same period last year, on sales up 33 per cent at TRL2.6bn.

"Among our non-financial operating areas, industrial companies recorded a growth of 71 per cent, energy 28 percent, retail 17 per cent, cement 13 per cent," said Chief Executive Zafer Kurtul.

Consolidated operating profit from non-financial units rose 152 per cent from last year, he said.