Update - Turkey's Sabanci Holding Sees H1 Sales Reach $5.45B

Sabanci Holding, a prominent Turkish conglomerate, saw its consolidated sales increase 11 percent to 19.2 billion Turkish liras ($5.45 billion) year-on-year in the first half of 2017, the business said on Friday.



According to a Sabanci statement, operational profitability increased by 21 percent to 4.3 billion Turkish liras ($1.22 billion) in the first six months of 2017, compared to the same period of the previous year.



Total assets rose to 326.58 billion Turkish liras ($92.74 billion) as of the first half of 2017 and the total equity capital of the consolidated main shareholder rose to 24.56 billion Turkish liras ($6.97 billion).



Sabanci Holding's CEO, Mehmet Gocmen, previously said: "We continue to grow day by day with the power, experience and culture we have received from our history of more than 90 years."



Meanwhile, Koc Holding's consolidated sales reached 45.5 billion Turkish liras ($12.89 billion) during the first six months of 2017, compared to 31.1 billion Turkish liras ($8.8 billion) at the same period last year.



The holding earned 2.5 billion Turkish liras ($708.6 million) consolidated partnership interest net profit for the period. The profit was 1.4 billion Turkish liras ($396.8 million).



Koc Holding's CEO, Levent Cakiroglu, said: "We continue to invest with our belief in the future of Turkey." -