Bloomberg News

Tofas 2011 Profit Rose to 474.2 Million Liras, Beating Estimate

February 21, 2012

Feb. 21 (Bloomberg) -- Tofas Turk Otomobil Fabrikasi AS, the Turkish unit of Fiat SpA in partnership with Koc Holding AS, said full-year profit rose 23 percent to 474.2 million liras in 2011.

Net income climbed from 384.2 million liras in 2010, Tofas said in a statement to the Istanbul Stock Exchange after the market closed yesterday. The company was expected to earn 461.9 million liras, according to the average of 26 analyst estimates compiled by Bloomberg.

To contact the editor responsible for this story: Aydan Eksin at

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