Profits of Bursa's top 250 firms up by 39 percent

Published 16.06.2015 22:46

The 2014 profits were up 39 percent for Bursa's top 250 firms. OYAK Renault tops the Bursa-250 with TL 8.7 billion ($3.178) in turnover, according to data released by the Bursa Chamber of Commerce and Industry (BTSO). Business is going well for Bursa despite a series of labor strikes the automotive sector experienced in May. According to 2014 data, the number of firms that made a profit increased, as did the rates of profit among the province's top 250 firms. The BTSO declared the number of firms that made a profit in 2013 was 212, which increased to 220 in 2014. Compared to 2013, the profits of these firms increased 39 percent, totaling TL 3.8 billion. Moreover, the reduction in the cost of financing has been effective. BTSO President İbrahim Burkay said they aimed for high-tech fields such as aviation and defense by capitalizing on their experience in the automotive, textile, machinery and metal sectors. Underscoring Bursa's current industry's capacity surpassing $75 billion in exports, Burkay stressed the need for high-tech investment. Burkay also said labor unrest in the automotive sector will affect 2015 numbers. Burkay reached out to all political parties and asked for stability, highlighting industry expectations of prioritizing national well-being upon the formation of the new government. Emphasizing the importance of structural reforms, Berkay said the election results was an indicator of the people's will and now it is up to the political parties to form a strong coalition government that can cease the need for a snap election and a new constitution.

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