Turkey's Koc group posts 2.1 bln TRY net profit for 2011

ISTANBUL (A.A) - Koc Holding, a leading industrial conglomerate in Turkey, has said its net profit in 2011 increased 22 percent over the previous year to reach 2.1 billion Turkish liras (nearly 1.16 billion USD). The group said its consolidated sales were up 41 percent to 75.7 billion TL and its operational profit increased 34 percent to reach 5.5 billion TL. Koc Holding's CEO Turgay Durak said the group planned to double its overall investments in 2012 with an investment worth of 6.5 billion TL.     Durak said the group expected a 9 percent growth rate for 2012 and an increase of 6 percent in exports, adding that consolidated turnover was expected to reach 80 billion TL.   Durak said the group's overall foreign sales were up 34 percent over 2010 to total 17.9 billion USD.     Durak said Koc employed nearly 81 thousand people, adding that the group planned to create 4 thousand more jobs in 2012.