Sabanci net profit up 7.6% in 2015

Turkish conglomerate Sabanci Holding posted a net profit of TRL2.236bn (US$750m) in 2015, up 7.6 per cent from a year earlier, it said in a filing to the Istanbul stock exchange on Monday. The holding's sales rose 10 per cent to TRL30bn in the same period.

The company further said it is looking to hold an initial public offering of its energy company and a secondary float of shares in its retail unit. The timing of the offerings is still uncertain due to market conditions, CEO, Zafer Kurtul, said at a news conference following the release of the company's 2015 earnings. (Source: Reuters)