Doğtaş Kelebek Mobilya grew by 46% in the second quarter
Turkey's leading furniture company Doğtaş Kelebek Mobilya posted its second quarter results. Having achieved 46 percent growth in the second quarter compared to the previous year, the company aims to grow by 50 percent by year-end 2017.
Reminding that he was appointed one year ago, Doğtaş Kelebek Mobilya CEO Ersin Serbes stated that the company had written a success story in a short time with its practices, investments, precautions, and improvements, and turned around the business in the last year. He also noted that net profit increased 3.8 times, 6.3 percent was saved from the operating expenditures / net sales ratio compared to the second period of the previous year, and the real operating income was 4.32 times that of the previous year. Serbes said that the share price in January increased by nearly 3.5 times, and investors showed a consistently greater interest in the company.
Pointing out that the VAT cut that took effect in February boosted sales and the positive outlook allowed them to reorganize several issues including employment plans, Serbes said that they supported the employment policy initiated by the government and would hire new people accordingly.
2023 objective: 3 billion TL in sales
Having increased its production capacity by expanding the plant in Düzce, Doğtaş Kelebek plans to make new investments within the year. Noting that the new products designed according to the competition and market demands made a serious contribution to the turnovers of both brands, Serbes said: "The average turnover rose by 50 percent in stores where we implemented our new Kelebek and Doğtaş store concepts. We are continuously improving with the right products, retail management, and operational planning. We have set our targets high, and have a lot to accomplish. We aim to achieve 3 billion Turkish lira in sales by 2023."
Stating that they always made sacrifices to contribute to the revitalization of the Turkish economy, Serbes said: Our company is a big family with 1,400 direct and 10,000 indirect members. We have established a strong team with many years of experience in the industry, and we move ahead at full steam. We aim for 50-percent growth this year for our company that incorporates Doğtaş and Kelebek, the two leading companies in the industry. In line with this objective, 38 new stores were opened in the first six months. The total number of our stores has reached 353. We also have 41 stores that are in the process of opening. We have made a busy schedule for the official openings of our new stores in Turkey and abroad. We have also been a part of important residential projects, with projects worth 36.5 million Turkish lira contracted to Kelebek. We seek to move the Turkish furniture industry continuously forward. We also want to become popular abroad with our brands, and make Doğtaş and Kelebek Mobilya prominent furniture brands worldwide."