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May 21, 2002

TURKEY: Kerevitas Gida moves into black in Q1 2002

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

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.

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