TURKEY: Financial charges push Migros Ticaret into red
Turkish retailer Migros Ticaret booked an increase in sales and EBITDA for last year but financial expenses hit its bottom line.
The company posted a net loss of TRL463.2m for 2013, compared to net income of TRL88.1m for a year earlier.
Other profit metrics improved. EBITDA grew 9.1% to TRL430m. Operating profit was up 19.5% at TRL236m.
Sales reached TRL7.13bn, up 9.9% on 2012.
At the end of 2013, Migros Ticaret had 1,004 stores. As well as Turkey, the retailer operates outlets in two smaller overseas markets - Macedonia and Kazakhstan.
Migros wants to strengthen its strong position in Turkish retailing, and to be a strong, regional retail chain, which ranks either first or second in the countries in which it operates. In line with i...
The 3% current value growth recorded in grocery retailers in Turkey during 2013 was a substantially better performance than the 2% current value CAGR recorded in the category over the entire review pe...
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
This is a detailed report covering Metro’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
- Analysis: Is Heinz, Kraft merger "a growth story"?
- McDonald's antibiotics move may be seminal moment
- M&A Watch: Who could be on 3G Capital's radar?
- Viewpoint: Faber-led Danone gets realistic
- The challenges awaiting ConAgra's new CEO
- UPDATE: Heinz, Kraft strike merger agreement
- Kraft "in buyout talks" with Heinz owner 3G
- Fatal explosion at French desserts firm Senagral
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus