Garanti Factoring Hizmetleri As Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
August 03, 2012
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Garanti Factoring Hizmetleri As announced consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported operating income of YTL 32,169,000 against YTL 20,874,000 a year ago. Net operating income was YTL 5,037,000 against YTL 2,393,000 a year ago. Profit on continuing operations before tax was YTL 5,037,000 against YTL 2,393,000 a year ago. Net period profit from continuing operations were YTL 4,021,000 or YTL 191.48 per thousand shares against YTL 2,150,000 or YTL 102.38 per thousand shares a year ago.
For six months, the company reported operating income of YTL 70,531,000 against YTL 41,183,000 a year ago. Net operating income was YTL 13,785,000 against YTL 3,359,000 a year ago. Profit on continuing operations before tax was YTL 13,785,000 against YTL 3,359,000 a year ago. Net period profit from continuing operations was YTL 11,015,000 or YTL 521.52 per thousand shares against YTL 2,928,000 or YTL 139.43 per thousand shares a year ago. Net cash provided used in operating activities was YTL 6,082,000 against net cash provided from operating activities YTL 66,312,000 a year ago. Fixed assets purchases were YTL 63,000 against YTL 206,000 a year ago.
Garanti Faktoring AS, formerly Garanti Faktoring Hizmetleri AS, is a Turkey-based company active in the financial sector. The Company offers factoring, financing, guarantee and collection services to industrial and commercial enterprises in both domestic and international markets. The Company offers such solutions, as transactions with checks, supplier financing, export and import factoring and collection management. The Company serves a customer base that includes small and medium enterprises (SMEs), companies that are predominantly known as importers or exporters and organizations that have a wide supplier and vendor network. Garanti Faktoring AS is a subsidiary of Turkiye Garanti Bankasi AS. It has a number of offices located in such cities, as Maslak, Gunesli, Kosuylou, Bursa, Izmir, Denizli, Antalya, Ankara and Adana, among others.