Profits of Turkey’s largest conglomerates, Koç Holding and Sabancı Holding, jumped in the third quarter of the year, their financial results have shown.
Koç Holding said on Nov. 9 its net profit climbed 31 percent to 1.290 billion liras ($334 million) in the third quarter from 981 million liras in the same period a year earlier, mainly due to strong contributions from the group’s energy and automotive businesses.
According to a statement to the Istanbul stock exchange, its total sales climbed to 25.87 billion liras in the third quarter from 18.64 billion in the same period a year earlier.
Sabancı Holding said on Nov. 7 that its net profit rose 64 percent in the third quarter to 880.5 million liras ($229.72 million), with its industrial, energy and retail businesses making a robust contribution in addition to its banking unit, Akbank.
Revenue rose 19 percent to 3.64 billion liras, Sabancı said in a statement to the Istanbul stock exchange.
