Electronics retailer firm posts profits

Electronics retailer firm posts profits

ISTANBUL - Hürriyet Daily News
Turkey’s Teknosa, a consumer electronics retailing unit of the Turkish conglomerate Sabancı Holding, posted a consolidated profit of 11.4 million Turkish Liras for the second quarter of 2012.

The company said in a regulatory filing to the Istanbul Stock Exchange yesterday that the second quarter figure was up from 8.9 million liras in the first quarter of 2012 as first half 2012 profits jumped to 20.3 million liras.

Earnings per share in the first six months of 2012 climbed to 0.185 liras from 0.162 liras over the same period last year as the company’s sales revenues soared by 38.8 percent to reach 534.4 million liras.
Teknosa General Manager Mehmet T. Nane said that the company was planning to grow and open 300 new stores by the end of the year, in a company press release following the announcement.

He added that he expected growth to speed up even more in the third quarter of 2012. He said that the company was online with its target of increasing turnover by 20 percent in 2012, employing 1,000 new employees and adding 30,000 square meters to its retail space.

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