Turkey's Sabanci sees net profit nearly doubles in first quarter

ISTANBUL Thu May 16, 2013 10:04am EDT

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ISTANBUL May 16 (Reuters) - Turkey's Sabanci Holding posted a 92 percent jump in its net profit to 570.7 million lira ($313 million) in the first quarter, its balance sheet showed on Thursday.

Sales at Sabanci, one of Turkey's biggest conglomerates, rose 12 percent to 1.83 billion lira, it also said.

The Istanbul-based company's retail arm saw strong sales in the period, and income also rose at Akbank, the lender controlled by Sabanci, which may have contributed to the sharp rise in profit, according to its balance sheet.

($1 = 1.8226 Turkish liras) (Writing by Ece Toksabay, editing by Ayla Jean Yackley)

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