Turkish Akcansa net profit surges

Turkish Akcansa net profit surges
Published: 11 November 2005

Turkish cement producer Akcansa posted a 89.6 mln new Turkish lira (US$65.87m) net profit, up 58 per cent year-on-year for the first nine months of 2005.  The company gross profit margin increased to 29 per cent from 26 per cent. Sales revenue was 308.6 mln lira (US$226.86m).  Akcansa is a joint venture between Sabanci and German HeidelbergCement Group, each of them holding a 39.72 per cent stake. A total 20.6 per cent of Akcansa is publicly traded on the Istanbul Stock Exchange (IMKB).