Turk Telecom posts a drop of 31.2% in net profit (Turkey)
Turk Telecom posted 2008 results wherein the net profit dropped 31.2% in 2008 to TRY1.75 billion (USD1.04 billion) in comparison to TRY2.55 billion a year earlier. Revenue grew to 8% year-on-year to TRY10.2 billion for 2008, attributed to 24% growth in wireless revenues and 36% growth in broadband revenues, at TRY2.1 billion and TRY1.7 billion respectively. The operating expenses for the year 2008 were up 12% compared to TRY5.9 billion in 2007.
