Pinar posts first quarter results

Date:2009-5-27 10:14:00

Turkish bottled water company Pinar Su, a part of Pinar Gida active in soft drinks, packaged meat and dairy, said its first quarter net profit fell 67% on the year to TL 800.000.

Net sales contracted by 10% on the year to TL 12 million, while EBITDA declined by 15% on the year to TRY 2.2 million. The company had a net debt of TL 6 million in the end of the first quarter.

Pinar Et, a packaged meat subsidiary of Pinar Gida, reported a net profit of TL 7.3 million in the first quarter of 2009, down by 2% on the year. Net sales declined by 4% on the year to TL 67.4 million, while the EBITDA increased by 8% yoy to TL 11.1 million thanks to a 1.9% rise on the year increase in the EBITDA margin to 16.5%.