Turkish fuel and oil products retailer Petrol Ofisi AS (PTOFS.IS), or POAS, is aiming to achieve annual turnover of $12 billion in 2008, Chief Executive Melih Turker said Thursday, according to Ihlas News Agency, or IHA.
Petrol Ofisi is also planning a $200 million investment into the company's domestic fuel distribution business this year, Turker said.
Turning to Georgia, he said POAS is expected to open its first fuel station in Georgia in the first half of this year.
Petrol Ofisi AS said March 11 that its 2007 net profit rose 35% on the year to 311 million new Turkish lira ($253 million).
OMV owns a 36% stake in POAS, and Turkish conglomerate Dogan Holding (DOHOL.IS) has a 57% stake in the company.
At 1025 GMT, POAS shares were trading 1.64% lower at TRY6.00, amid a 1.65% lower overall market.