In the first 6 months of the special accounting period, Merko Gıda increased its consolidated sales by 507 percent and its consolidated profit for the period by 2,067 percent, achieving the best half-year performance in its history. While the company’s consolidated sales exceeded 482 million TL in the said period, its consolidated net profit was 62.6 million TL.
Merko Gıda, one of Turkey’s largest companies in industrial tomato production and transformed into an integrated food company with Frigo Pak, which it incorporated, announced its financial results for the second half of 2022. Sharing its consolidated financials for the period 01.07.2022-31.12.2022 with the statement made to the Public Disclosure Platform (KAP), Merko Gıda increased its consolidated sales to 482.8 million TL with an increase of 507 percent compared to the same period of the previous year. In the same period, the company’s consolidated net profit for the period was 62.6 million TL, while the net period profit of the parent company’s share reached 20.9 million TL.
Commenting on this record success achieved in the second half of 2022, Alistair Baran Blake, Chairman of the Board of Merko Gıda, said that despite global climate problems, shrinkage in product supply, and increase in agricultural input costs, it aims to become one of the largest companies in Turkey in industrial tomato production and value-added agricultural products. Said they were continuing. Explaining that they are continuing the growth move they started with Frigo Pak Gıda, Blake said, “We aim to transform Merko Gıda, which is a strong, transparent and corporate company today, into a global company that adds value to the Turkish economy in the coming period. In Frigo Pak Gıda, on the other hand, we have decided to invest in the production and export of canned peaches and apricots, which will include the garden plantations of the products in question, in order to diversify the existing production activities and evaluate the potential growth opportunities. We will start feasibility studies on this subject soon. We aim for 2023 to be a year in which we continue to reap the rewards of our investments and resolutely maintain healthy balance sheet management.”
100 MILLION TL INVESTMENT
Merko Gıda has announced that it has started investing in closure and packaging in addition to the existing cube tomato lines in its production facilities due to the increasing foreign-sourced business volume. The company, which previously produced only large-sized cubed tomatoes, tomato paste and canned tomatoes, will also take its place in chain markets and restaurants in different geographies with packages suitable for retail with this investment.
Reminding that the works are continuing for this investment, which has reached 100 million TL, Blake said, “We are planning to complete the investment this season. When completed, we will be included in the ‘private label’ categories of chain restaurants and markets. Our next step will be to create our own brand and export this brand to different geographies of the world. We pressed the button for branded production, which is suitable for both retail and home consumption.”
Source: (BYZHA) – Beyaz News Agency
