Sisecam has announced its 1999 full-year audited results. Net profits were TL 1,549.52bn (TL 3,720.35bn). Net sales were TL 4,897.42bn (TL 3,443.84bn). Operating loss was reported at TL 1,978,20bn (TL 763.35bn). Sisecam is the parent company of Turkey's leading glass group which comprises 24 production, packaging and marketing firms as well as a brokerage house. It is 69.18% owned by T.Is Bankasi, one of Turkey's leading commercial banks. The company said it was to propose a dividend payment of TL 1.106 trillion, or 0.014 bonus share per existing share to the general shareholders' meeting which was due to be held on March 22nd. These figures do not take into account Turkey's wholesale price inflation of 62.9% in 1999. In 1999, Sisecam group spent US$86m on production upgraded investments. (whole item)
