Koc Holding Net Profit Surges On Rising Sales

Koc Holding AS (KCHOL.IS), Turkey's largest conglomerate by sales, reported Friday a 52% rise in fourth-quarter net profit on higher sales.

The company's net profit for the fourth-quarter rose to 471.6 million Turkish lira ($264.4 million) from TRY309.7 million for the year earlier period, according to a statement on the Istanbul Stock Exchange's website.

Sales rose 37% to TRY19.15 billion from TRY13.98 billion.

The company's full-year 2011 net profit rose to TRY2.1 billion from TRY1.7 billion a year earlier.

Koc Holding operates in five main segments: energy, automotive, consumer durables, finance and others.

Companies operating under Koc Holding include Ford Otomotiv Sanayii AS (FROTO.IS), or Ford Otosan, and Tofas (TOASO.IS) in the automotive sector; Arcelik (ARCLK.IS), Beko and Demirdokum in the durable goods sector; Aygaz (AYGAZ.IS) and Opet in the energy sector; Tansas and Tat in the food and retail industry; and Yapi Kredi (YKBNK.IS) and Koc Finansal in the financial services industry.

-By Yeliz Candemir, Dow Jones Newswires, [phone]; [e-mail]