Turkish defense giant Aselsan grows 30% in Q1
Aselsan completed Q1 with strong income and profit, says its head
Turkish defense giant Aselsan's incomes grew by 30% to 2.6 billion Turkish liras ($387.6 million) in the first quarter of 2020, on an annual basis, the company announced late Tuesday.
The firm's gross profit also increased by 61% over the same period and net profit was up by 46% to 920 million Turkish liras ($137.2 million).
During the first three months of the year, the company received new orders which totaled $350 million.
Haluk Gorgun, head of the company, said while the world faced several difficulties, Aselsan completed the first quarter with a strong income and profit.
"Our equity reached 14.5 billion Turkish liras ($2.16 billion) as of the end of the first quarter," he noted.
Aselsan expects 40-50% income rise by the end of 2020, he added.
Aselsan is the largest defense company of Turkey and among the top 100 defense firms in the world.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.