Turkish delight for Kordsa as revenue rises

ERJ staff report (TP)

Istanbul, Turkey – Textile reinforcement specialist Kordsa Global increased its revenues by 19% in its first-half year results compared to the same period last year.

The company said revenue reached $404 million (€306m), while net profit was $25 million.

Profit before tax, interest and amortisation (EBIT) was $51 million, which corresponds to an increase of 95%.

CEO Cenk Alper said “We have recently focused on operational efficiency, especially we targeted at controlling our fixed costs. Now we are harvesting the results of this strategy [and] we will continue this positive course and plan to increase our revenues by 20% at the end of the year compared to 2013.”

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