Turk Telekom reports 13% sales growth

10 Jun 2008

Turkey’s dominant fixed line operator, Turk Telekom, has announced its first quarterly financial results since its shares went public last month. Revenues for the three months to the end of March were up 13% year-on-year to TRY2.4 billion (USD1.93 billion) with operating profit of TRY666 million, up 24%. At the end of March Turk Telekom claimed 18 million fixed access lines and 4.95 million ADSL connections, plus 10.5 million GSM subscribers via its 81%-owned subsidiary Avea. The operator is forecasting that it will have six million ADSL broadband internet customers by the end of this year, while it predicts that Avea will have increased its share of the Turkish cellular market to 18% by year-end, up from 17% at end-March. The Turkish government sold a 15% stake in Turk Telekom via IPO in May, raising USD1.9 billion for state coffers.

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