Turkcell 2011 net profit declines

Turkish mobile phone operator Turkcell has said 2011 net profit fell 33 per cent due to the effect of devaluation and hyperinflation in Belarus, where subsidiaries operate, while revenue rose 4.1 per cent. Net profit was 1.18 billion lira ($670 million), on revenue of 9.37 billion. In the fourth quarter, net profit fell 9.9 per cent to 332 million lira, while revenue rose 12 per cent to 2.45 billion. “The growth momentum that we achieved in the second quarter of the year in the fields of voice and mobile internet, and also at our subsidiaries, was accelerated in the third and fourth quarters,” chief executive Sureyya Ciliv said on Thursday.