Doğtaş Kelebek Mobilya grew by 77% in the third quarter
Doğtaş Kelebek Mobilya increased its net sales revenue in the third quarter of this year by 77 percent compared to the same period of the previous year. The company reported net sales of 459.3 million Turkish lira for the first three quarters.
Doğtaş Kelebek Mobilya, one of the leading companies in the Turkish furniture industry, increased its net sales in the third quarter of this year to 208.3 million Turkish lira, representing tremendous growth of 77 percent compared to the same period of the previous year. The company also increased its net sales revenue to 459.3 million Turkish lira in the first nine months of this year with a 46.5 percent increase compared to the same period of the previous year. The rise in Doğtaş Kelebek Mobilya's net sales revenue can be attributed to the change in its product range, with the introduction of new products, new stores in Turkey and abroad, and the uptake in domestic and foreign sales. As the company attaches considerable importance to opening stores abroad as well as in Turkey, exports accounted for 9 percent of total sales as of end-September.
In line with the growth in its net sales revenue, Doğtaş Kelebek also increased its profit. While the company generated 33.6-million Turkish lira in earnings before interest and taxes (EBIT) for the first nine months of the previous year, it increased this figure to 90.8 million Turkish lira in the first nine months of this year – a 170.2-percent jump compared to the same period of the previous year. The company earned a net profit of 20.7 million Turkish lira in the first nine months of this year.
Having opened 61 new stores (27 Doğtaş and 34 Kelebek stores) by September this year, the company aims to push up the total number of its stores to 387 by opening 28 more stores by the end of the year.
"2017 is the beginning of a new leap forward"
Commenting on the third quarter balance sheet results, Doğtaş Kelebek Mobilya CEO Ersin Serbes stated that the strong growth in sales revenues had a positive effect on profitability thanks to the efficiency they achieved in production. Serbes said: "Doğtaş Kelebek Mobilya
put in a successful financial performance both in the third quarter and in the first nine months of the year. Changes in our product range, increasing the number of domestic and international stores, expanding our marketing activities, as well as improved manufacturing efficiency, following strict cost management including the reduction of overall management expenditures, and reducing the cost of raw materials were important factors in achieving successful financial results. Pointing out that the financial results in the first nine months of the year also validated the success of their new business model, Serbes said that 2017 would be the beginning of a new leap forward for Doğtaş Kelebek Mobilya. Serbes said: "We will continue to make headlines and set standards in furniture retailing in the coming period with our updated and trendy product portfolio, new store concepts developed for both Doğtaş and Kelebek Mobilya, efficient after-sales services, and distinctive innovations.