Vestel Elektronik Sanayi ve Ticaret A.S. decided to delist its GDRs ((GLOBAL DEPOSITARY RECEIPTS; FULLY PAID; (EACH REPRESENTING 1 ORDINARY SHARES OF TL1,000 EACH); RULE 144A) which are trading in the MainMarket of London Stock Exchange due to limited trading volumes in recent years. The last day of listing & trading for the GDRs on the LSE will be 31 December 2010. However, the GDRs will continue to be traded on the London Over-The-Counter ("OTC") market commencing 3 January 2011. This action should not have any impact on the trading of the Company's shares in the ISE.
Vestel reported total revenues of US$2,441mn and net profit of US$9.8mn in 9mth-10.
Click here 9mth-10 CMB financials.
Vestel reported total revenues of US$1,547mn and net loss of US$2.1mn in 1H10.
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Vestel CIS (Russia), an affiliate of our company, located in the city of Alexandrov at a 120 km distance to Moscow with an annual production capacity of 1 million units of white goods opened a new LCD TV factory having a closed area of 2,916 square meters on a land next to the white goods factory. The official inauguration of the new factory took place today. The total investment is approximately US$8.5 million, including the land, construction, machinery and equipment. The annual production capacity of the mentioned factory is aprroximately 1,000,000 units of LCD TVs.
Vestel reported total revenues of US$774.2mn and net profit of US$10mn in 1Q10.
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Although profits had been determined in the financial statements being prepared according to the "Communiqué on Principles of Financial Reporting in Capital Markets Serial XI and No:29" and "Tax Procedure Law", losses from the previous years had appeared in the financial statements in which inflation adjustments had been made as of the date of 31.12.2003 in accordance with the Communiqué Serial XI and No: 21, and no profit remained as a result of deduction of 2009 earnings from these losses. Accordingly, The Board of Directors of Vestel Elektronik decided to propose no dividend payment (from 2009 earnings) to the General Assembly at its Board meeting dated 26 April 2010.
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Vestel reported total revenues of US$3,002mn and net profit of US$47.9mn in FY09.
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ISS, the world's leading provider of corporate governance and proxy voting solutions, affirmed Vestel Elektronik's corporate governance rating score at 8.5. ISS Corporate Services stated in its report that the rating reflected the very good overall performance of the company regarding its current corporate governance structures as measured against the Principles of the Turkish Capital Markets Board (CMB).
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Standard and Poor's revised the outlook on the "B-" rating on Vestel Elektronik to stable from negative.
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