Home / Knowledge / News / Textiles / Sabanci aims operating profit of 3.7 bn YTL in 2008
Sabanci aims operating profit of 3.7 bn YTL in 2008
Mar '08
Last year, Sabanci Group increased its consolidated net sales by 20 percent to 19.4 billion YTL. It has announced its consolidated net sales target for year 2008 as 21.7 billion YTL, representing an increase of 12 percent.

Sabanci Holding Annual Information Sharing Meeting 2008, where Sabanci Group's financial achievements in 2007, and targets and expectations for 2008 were announced, took place at Sabanci Centre with the attendance of Holding Chairman Guler Sabanci and CEO Ahmet Dorduncu.

In the evaluation meeting, Sabanci Holding Chairman Guler Sabanci said; “It's time to pull ourselves together and look ahead in a different direction. We should not make a plan for the future by looking at what we've been through.”

Guler Sabanci pointed out that the sub-prime mortgage crisis that emerged at the end of 2007 caused the financial markets to lose credibility, and gave rise to a danger of recession.

Sabanci said, although the energy and oil prices create an inflationary pressure on global economy, significant business opportunities have arisen for Turkey as well.

Sabanci mentioned that in such a world, Turkey faces important opportunities. Sabanci said, “If we avoid political crises; we see that there will be an excess liquidity put into circulation in the global markets for purposes of dealing with the global sub-prime crisis, which excess will constitute a major opportunity, and that Turkey could be one of the markets where such excess liquidity may flow to, as a result of the financial losses and instability in the USA.

We believe that, under such circumstances, it can also contribute to the financing of the current account deficit in the short run.

These levels of oil, gas and energy prices end up with a considerable build up of liquidity in the countries having such resources.

Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search