Turkey's Sısecam 2009 Net Profıt At Try111.8m Vs. Try158.7m
Turkish glass maker Sise Ve Cam Fabrikalari AS, or Sisecam (SISE.IS), late Friday posted a consolidated net profit of 111.808 million Turkish lira ($75.07 million) for 2009.
The company's net profit was TRY158.7 million a year earlier.
The company didn't give a reason for the fall in net profit, but the Web site of the Istanbul Stock Exchange showed that it mainly stemmed from falling sales.
Income from sales fell to TRY3.6 billion in 2009 from TRY3.7 billion a year earlier, while cost of sales rose to TRY2.7 billion from TRY2.6 billion.
The company's operating profit fell to TRY245.6 million in 2009 from TRY451.7 million a year earlier.
Last April, French construction materials group Saint-Gobain SA (SGO.FR) said it signed an agreement with Sisecam to jointly develop flat glass activities in RussiaEgypt.
Sisecam shares Friday closed trading on the Istanbul Stock Exchange 2.04% higher at TRY2.00, amid a 1.32% higher overall market.
(YC-YC-E-ENG)