Tofas 2006 net profit down 42 percent as tax rises

Newswire

ISTANBUL, March 22 (Reuters) - Turkish carmaker Tofas posted a net profit of 81.88 million lira ($59 million) last year, down 42 percent from a year earlier as tax payments rose sharply. According to results published on the Istanbul Stock Exchange website, Tofas' net sales rose 20 percent to three billion lira last year. Pretax profit climbed nine percent to 178.6 million lira. The fall in net profit reflected a 339 percent rise in tax payments to 96.7 million lira. A legislative ...

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