Turkey: Anadolu Efes reports 15% increase in nine-month net profit

Turkish beer and malt producer Anadolu Efes said its net profit rose to 1.3 billion lira ($152.2 million/128.4 million euro) in the first nine months of 2020, up 15% year-on-year, SeeNews reported on November 6.

The company's total revenue increased by 12.5% on the year to 20.3 billion lira in the period under review, it said in an interim financial statement on November 5.

Cost of sales increased to 12.7 billion lira in the nine months through September, from 11.3 billion lira in the first nine months of 2019.

Anadolu Efes, established in 1969, produces and markets beer, malt and Coca-Cola products. The company is part of Turkish conglomerate Anadolu Group Holding.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .