Arcelik the white goods arm of Turkish industrial conglomerate Koc Holding said its consolidated net profit grew by 14.7% to 259.4 million lira ($36.5 million/33.6 million euro) in the first quarter of 2020.
Total revenue increased by 12.53% on the year to 7.77 billion lira in the January-March period, Arcelik said in an interim financial statement filed with the Istanbul bourse on Thursday.
The company’ gross profit from commercial operations rose by 10.3% year-on-year to 2.5 billion lira in the first quarter.
The cost of sales increased to 5.3 billion lira from 4.7 billion lira a year earlier.
Arcelik specialises in production, marketing, sales and after-sales customer service in the area of white goods, consumer electronics, small home appliances and kitchen accessories. The company has 21 production facilities in eight countries and 34 sales and marketing offices in 30 countries.