Turk Telekom expects sales to rise 9 to 10 percent this year, after 2.7 percent growth the previous year, and that it expected operating profit margin of 40-45 percent, against 45 percent last year.
Sales rose 12 percent in the first half of 2011, driven by particularly strong growth in Turk Telekom's broadband Internet unit, although net profit fell 3 percent, hit by forex losses amid lira weakness.
Turk Telekom's Avea mobile unit has also supported group sales, although a fierce price war in Turkey has kept margins under pressure.
The company said it expected investment of 2.2 billion lira ($1.25 billion) in 2011.
Shares in Turk Telekom fell 2.4 percent to 8.12 lira in morning trade, and were yet to reopen after the announcement.
The stock has risen 34 percent since the start of the year, bucking the downward trend for Turkey's equity index, which has fallen 15.7 percent in the same timeframe.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
