Turkey's CarrefourSA gains first profit in 5 years
by AA
May 03, 2014 - 12:00 am GMT+3
by AA
May 03, 2014 12:00 am
ANKARA — CarrefourSA of Turkey said Thursday its net profit rose 150 percent in the first quarter of this year compared with the same period of 2013.
According to a statement CarrefourSA posted a profit of 3.7 million Turkish lira ($1.75 million) for the first quarter of 2014 are five years of losses, including 100.1 million Turkish lira ($48 million) loss for 2013.
Mehmet Nane, chief executive of CarrefourSA, said "we set a new strategy for the company with Sabancı Holding and poured resources into better technology. After the implementation of the new strategies we have results with profit."
The retail company's total assets increased by 43 million Turkish lira ($20.4 million) to 1.609 billion Turkish lira ($760 million) in the first quarter of this year.
Turkey's Sabancı Holding has a 50.8 percent stake in CarrefourSA while Carrefour retains a 46.2 percent share.
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.