Brisa 2008 Results Show Sales Increase but Profits Down

Turkish manufacturer Brisa achieved net sales of 772,203,901 Turkish liras (£306.1 million) in the year ended December 31, 2008. This result disclosed in the company’s audited statement of income, represents a 2.9 per cent increase on the previous year. Operating income, at 48,709,571 liras (£19.3 million), was down 26.1 per cent on the 2007 financial year, and although profits of 31,795,956 (£12.6 million) liras were 49.1 per cent lower than the previous year, Brisa remained in the black during the year. The company’s domestic sales came to 610,590,748 liras (£242.0 million), a rise of 5.8 per cent. Exports declined 1.2 per cent during the year to 247,181,348 liras (£98.0 million).

It should also be noted that Brisa’s production, which increased 1.2 per cent in 2008 to 8,678,387 tyres, is incongruous with the company’s unit sales volume. The total 2008 sales volume unit figure of 8,574,100 tyres is 2.6 per cent lower than the previous year and 104,287 fewer tyres than were produced during the year. This overproduction led to the company’s decision to halt the assembly lines between December 17 and 29 last year.