Frozen and canned food manufacturer Penguen Gida has posted a net loss of 2 trillion Turkish lira (US$1.22m) for its H1 2002, a reduction from the net loss of 5.7 trillion lira recorded in the same period of 2001. The finance director of the Turkish company said that at the end of its Q1 2002, it had a net profit of 205bn lira. However, by the end of June 2002, Penguen Gida's short-term debts were 38.2 trillion lira and its long-term debts were 9.9 trillion lira.