Doğan Holding boosts operating profit by 23 percent

ISTANBUL - Hürriyet Daily News

Doğan Holding Board Chairman Begümhan Doğan Faralyalı warned that an economically tough year lay ahead.

Doğan Holding increased its operating profit by 23 percent in 2013 and made a 565 million Turkish Liras investment over the year, the company said in a statement.

In the same statement, the Doğan Holding Board Chairman Begümhan Doğan Faralyalı warned that an economically tough year lay ahead.

“As Doğan Holding, we will continue to create value for our country with our stable performance in our operating fields,” she said in the statement released to announce the company’s 2013 financial figures. “While growing in our main operating fields, media, energy and culture-entertainment, we will assess investment opportunities that may add value.”

With its 21 percent market share in newspaper circulation and 37 percent share in magazine circulation, Doğan Yayın Holding, the media arm of Doğan Holding, has also maintained its leadership in the media sector. Broadcaster Kanal D has become the most-watched TV channel in “All Day” class according to TNS data, the statement added.

Digital pay-Tv operator D-Smart also continued its growth by raising its number of subscribers 19 percent to over 1 million, while increasing its membership income by 32 percent.

Doğan Holding CEO Yahya Üzdiyen, also quoted in the statement, said the group had managed to maintain stability and financial balance in 2013, despite the hard global economic conditions. “Our success as Doğan Yayın Holding has been recognized by the international credit rating agency Fitch Ratings with a credit note upgrade this year, as it was last year,” Üzdiyen said, recalling the agency elevated notes of Doğan Yayın Holding and Hürriyet Gazetecilik from B+ to BB-.

Tough year ahead

In her remarks, Faralyalı warned that “in global respect, 2014’s challenging impacts will be felt by the emerging countries that include Turkey.”

“In addition to that, the foreign exchange currency has lost much more value than other emerging countries at the beginning of 2014. This added an extra burden to our economy. In particular the private sector’s debt soared,” she said.