Vodafone Turkey posts EUR 1.5mn operating profit in 2011-2012 fiscal year.

By bne IntelliNews May 31, 2012
Serpil Timuray, CEO of Vodafone Turkey, announced that the company posted an operating profit of TRY 3.5mn (EUR 1.5mn) in the fiscal year of 2011-2012 (April 2011- Mar 2012) versus a loss of TRY 174mn a year ago. The company posted an operating profit for the first time since it entered the Turkish market by acquiring local GSM operator Telsim for USD 4.55bn in 2005. Vodafone has invested a total of TRY 11.8bn in Turkey, including the acquisition of Telsim, since 2005, according to Sinan Kizildag, vice president of the executive board of Vodafone Turkey. Please note that Vodafone Turkey announced earlier this month that it increased its total revenues by 28.1% y/y to TRY 4.7bn in the fiscal year of 2011-2012 and also managed to increase its domestic market share to 28.5% and its number of subscribers by 1.4mn to 18.2mn.

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