* Sabanci expects higher sales, profit from energy arm
* Plans IPO for its energy, insurance units
(Adds details, quotes)
ISTANBUL, March 7 Turkey's Sabanci Holding
said it expects the start of hydropower plants this
year to boost income after posting a slip in net profit for 2012
Net profit slipped to 1.86 billion lira ($1.03 billion) from
2011's 1.88 billion despite sales rising 9 percent to 11.6
Fourth-quarter net profit was 657.3 million lira and sales
were 3.03 billion, according to calculations by Reuters.
"Our hydropower plant projects will become operational in
2013 and 2014 and will have a significant contribution on our
income and profitability in the coming years," Chief Executive
Zafer Kurtul said.
Slower economic growth in Turkey last year hit corporate
profits. Despite the slowdown, Sabanci exceeded its targets, it
Sabanci shares rose 3.4 percent after the income statement.
They gained 85 percent in 2012, outperforming the stock
exchange's 52 percent advance.
Initial public offerings for energy unit Enerjisa and
insurer Avivasa will boost Sabanci share values further, said,
without specifying dates for these.
Sabanci's growth this year will exceed that of the wider
Turkish economy, which the government projects will expand to
about 4 percent, Kurtul said.
(1 = 1.798 liras)
(Writing by Ece Toksabay; editing by Ayla Jean Yackley and