Frozen and canned food manufacturer Kerevitas Gida has swung into the black in the Q1 of this year, posting a net profit of 4.8 trillion Turkish lira (US$3.4m), against a net loss of 18.1 trillion lira for the same period in 2001.

At the end of 2001, Kerevitas had a net loss of 43.9 trillion lira

According to the Dunya daily, Swiss food behemoth Nestlé now controls a 25.17% stake in the company following its recent acquisition of German frozen food firm Scholler Group, which originally owned the stake.