Turkish Akcansa 2006 net profit rises by a quarter

Turkish Akcansa 2006 net profit rises by a quarter
Published: 12 March 2007

Turkish cement producer  Akcansa said its net profit rose by a quarter to TRL146.5m  (US$103.15m) in 2006 from a year earlier, boosted by strong domestic sales.  
 
Sales jumped 40 per cent to TRL577.5m (US$406.6m), the company said in a statement to the Istanbul Stock Exchange on March 9, 2007.  
 
Akcansa sold over 1Mt of cement on the local market, up by 30 per cent from 2005 and sales of ready-mixed concrete went up by 21 per cent.  
 
In 2007, the company will continue its US$135m (EUR102.7m) investment programme in Canakkale plant, western Turkey, aimed at raising the plant’s capacity by 100 per cent, general director Mehmet Gocmen said.  
 
Akcansa is a joint venture between local industrial conglomerate  Sabanci Holding and HeidelbergCement, with each of them holding a 39.72 per cent stake.