Local group’s Q2 net profit rises by 23 pct

ISTANBUL - Reuters

Turkey’s one of the biggest groups Sabancı Holding’s chairperson Güler Sabancı is seen.

One of Turkey’s largest business groups, Sabancı Holding, said its second-quarter net profit rose 23 percent to 518.7 million Turkish Liras ($261 million).

Sales rose to 2.06 billion liras from 1.84 billion liras in the same period of the year before, the company told the Public Disclosure Platform.

The six-month net profit of the group has reached 1.09 billion lira, rising by 51 percent.

“We continue our investments with the expectation that our country’s political and economic stability will persist,” Sabancı CEO Zafer Kurtul said.