Ending up with a loss of YTL 11 million 197 thousand after the first nine months of last year, Penguen Gıda achieved a profit of YTL 2 million 797 thousand for the same period this year. Aykan Sözüçetin, General Director of Penguen Gıda, said that the company concentrated on profitable products as a result of efficiency studies conducted, investments made and new management approaches adopted. Reminding that the company has strengthened its financial structure by establishing a partnership with Asia Special Situations, a group company under ADM Capital, Mr. Sözüçetin said: “Despite the impacts of the drought in 2007 and low exchange rates on the exports turnover, profit has been achieved in the first 9 months after years with a gain of YTL 2.8 million. Comparing this figure to the net loss of YTL 11.2 million for the same period in 2006 will clearly show the high performance our company has achieved."
Costs decreased
Stating that despite the failure to increase in production as desired due to the drought in the summer of 2007, Penguen Gıda has efficiently managed its resources preserving its sales turnover compared to the previous year and achieving a decrease in costs, Mr. Sözüçetin said that “from now on, Penguen Gıda will target profitable growth.” (FINANCE SERVICE) |
