Dogan Holdıng 09 Net Loss Try114.1m
Turkish media-to-energy conglomerate Dogan Holding (DOHOL2.IS) Friday posted a consolidated net loss of 114.113 million Turkish lira ($76.6 million) in 2009.
The company posted a net profit of TRY68.145 million a year earlier.
According to the Istanbul Stock Exchange's Web site, the net loss mainly stemmed from falling sales.
The company's income from sales fell to TRY10.316 billion last year from TRY12.5 billion a year earlier, the Web site showed.
Its financial revenue also fell to TRY899.2 million last year from TRY1.289 billion in 2008.
Dogan Holding posted an operating loss of TRY44.9 million in 2009 compared with an operating profit of TRY344.3 million during the previous period.
Dogan Yayin Holding (DYHOL.IS), Turkey's largest media companya unit of Dogan Holding, is faced with a record 4.8 billion Turkish lira tax fine, which has attracted criticism at homeabroad, reflecting a long-running dispute between Turkey's ruling AK Partythe Dogan companies.
AK Partythe Dogan companies were previously in a dispute in 2008 after Turkish Prime Minister Recep Tayyip Erdogan accused Chairman Aydin Dogan of organizing a campaign against the government, the ruling AK Partyhis family by publishing reports of an alleged corruption in his newspapers.
However, Aydin Dogan rejected Erdogan's accusationsaccused the prime minister of harming the freedom of the press.
At the end of last year Dogan Holding announced that it had decided to restructure the company in order to build strong foreign partnerships.
Dogan Holding shares closed trading at the Istanbul Stock Exchange 1.85% lower at TRY1.59 on a 1.32% higher overall market.
(SB-SB-ENG)