Turkish energy company Ak Enerji (AKENR.IS) swung to a net profit in 2008 on the back of increased sales, the Ihlas News Agency, or IHA, reported Wednesday.
The company posted a consolidated net profit of 88.9 million Turkish liras ($52.1 million) in 2008, compared with a net loss of TRY39.5 million in the previous year.
Citing the Web site of the Istanbul Stock Exchange, or IMKB, IHA said sales rose to TRY607 million in 2008 from TRY452 million in 2007.
The company posted an operating profit of TRY67.2 million in 2008, compared with an operating loss of TRY55.1 million in 2007.