Anadolu Efes Bounced Back With Soaring Sales

Turkish company Anadolu Efes has posted first-half profits following booming sales. This comes as welcome news for the company, which posted a decrease in net profits for 2005, as they tumbled to US$20.1mn, a year-on-year decrease of 43.5%. This drop in profits was attributed to high oil prices, which served to push up packaging and transportation costs. The other factor was the strengthening of the dollar against the euro, as the company reported a US$9mn foreign exchange loss in 2005, against a US$7.9mn foreign exchange gain in 2004. However, it appears that the company has rebounded, as net income for

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