Tech firms on Borsa Istanbul enjoy highest profit rise since 2008

Published 12.04.2019 00:12

Technology companies traded on the Borsa Istanbul generated the highest profit in 2018. Accordingly, among the main sector indices traded on Borsa Istanbul, technology companies raised their profit by 50.53 percent in 2018.

The companies operating in the industry sector saw an increase of 30.18 percent in profit, followed by the financial sector at 9.71 percent, while the companies operating in the services sector decreased in value by 21.46 percent.

Last year, the financial sector took the lead in profit with TL 58.7 billion, followed by the industrial sector that generated TL 31.7 billion in profit last year.

The services sector amounted to TL 6.7 billion in profit. Companies in the technology sector generated the least profit in this period. Profit generated by the companies involved in the technology sector remained at TL 2.7 billion last year.

Among the subsector indices, on the other hand, the transportation sector generated the highest profit for its investors with 249.79 percent, followed by the metal main industry at 57.01 percent, the insurance sector at 48.73 percent and the companies involved in the mining sector at 45.07 percent.

Meanwhile, companies traded in the non-me

tal mineral product index raised their profits by 34.29 percent, followed by textiles and leather at 28.18 percent, metal goods and machinery at 22.92 percent, real estate investment trusts at 15.92 percent, holdings and investments at 15.86 percent, the food and beverage sector at 14.03 percent, the banking sector at 5.51 percent, the financial, leasing and factoring sector at 2.67 percent, and the chemicals, oil, and plastics sector at 2.12 percent.

Among the sector indices, the communications sector experienced the highest decrease in the period with 79.78 percent. The companies operating in the communications sector were followed by the construction sector at 38.25 percent, investment trusts at 28.27 percent, the commercial sector at 26.77 percent and the IT sector at 12.08 percent.

Among the subsector indices, companies operating in the banking sector generated the highest profit in this period, reaching TL 36.2 billion. Companies in the banking sector were followed by the holding and investment sector at TL 15.8 billion and the metal main sector at TL 10.9 billion. Having announced a total loss of TL 84.5 million in 2017, companies engaged in forestry, paper and printing generated TL 502.5 million in profit last year. The small and medium-sized enterprises (SME), which announced TL 17.6 million in profit in 2017, lost TL 2 million last year. Companies in the electricity sector, which made a profit of around TL 999 million in 2017, maintained a downward course in 2018, suffering a loss of TL 1 billion. The loss of the companies operating in the tourism sector rose from TL 31.2 million to TL 89.2 million in 2018.

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