Posted by meb at May 13th, 2007

Turkcell posted a 45 percent annual rise in first quarter net profit on Wednesday, but Turkey’s leading mobile phone operator voiced caution over uncertainties generated by a domestic political crisis. Net profit jumped to $272.1 million from $187.2 million.

The company added a record number of new subscriptions in the quarter and said revenues rose 14 percent to $1.3 billion, while average revenue per user dipped to $12.10 from $12.20.

Turkcell’s subscriber base grew 12 percent on an annual basis to 32.2 million from 28.7 million. Chief Executive Süreyya Ciliv, who has been in the job since January, said the number of new subscriptions was a record for any first quarter.

“Despite a slow start in January due to the introduction of a new dealer incentive program, we have built strong momentum in customer acquisitions through the quarter,” Ciliv said.

Turkcell shares fell 0.3 percent in New York before the statement was released, following a 2 percent rise in Istanbul to YTL 7.8.

Turkcell has a market share of about 60 percent in Turkey but faces increasing competition from Vodafone Group Plc and Avea.

Earnings before interest, tax, depreciation and amortization (EBITDA) stood at 40 percent in the first quarter.

source: Referans

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