Turk Telecom 2Q results

Fixed line operator Turk Telekom reported consolidated profit for the second quarter to 30 June 2008 of TRY627.3 million (USD527 million) up 10% year-on-year. Sales were TRY2.56 billion, up 10% from TRY2.33 billion in the same quarter last year.

Net income for the first half of the year fell 6.9% to TRY1.03 billion from TRY1.10 billion in the same period of 2007. First-half revenue rose 11.5% year-on-year to TRY4.98 billion from TRY4.46 billion. Operating profit increased 13% to TRY1.35 billion. Revenue from fixed line operations was TRY4.08 billion, an increase of 7% year-on-year, while revenue from wireless operations was TRY1.02 billion, up 36% on first-half 2007. Turk Telekom owns Turkey’s third mobile operator by subscribers Avea which reported subscribers reached eleven million by end-June 2008 thanks to 485,000 net additions in the second quarter of the year.