Anadolu Efes, the Turkish brewer and malt producer, has reported a net profit for the first quarter of 2003 of TL2.6 trillion (US$1.7m/€1.5m), versus TL12.5 trillion (US$8.1m/€7.2m) in the first quarter of 2002, according to sources. Pre-tax profit was down from TL18.6 trillion (US$12.1m/€10.7m) to TL4.2 trillion (US$2.7m/€2.4m), while operating profit rose from TL9.3 trillion (US$6.0m/€5.4m) to TL18.3 trillion (US$11.9m/€10.6m).

The company previously reported a net profit of TL26 trillion (US$16.9m/€15m) for 2002 against a net loss of TL14.1 trillion (US$9.1m/€8.1m) in 2001.

07 May, 2003