Koç only Turkish entry on Fortune Global 500 list

July 11, 2008, Friday/ 19:37:00
Koç Holding, the largest Turkish industrial conglomerate, is the only company in Turkey to achieve a place on Fortune's annual Global 500 list, which was announced yesterday.
Koç Holding took the 186th spot on the list, which rates companies by annual revenue, for 2007, representing a jump of four places over the previous year. The holding's sales amounted to $39.4 billion and the Turkish company was able to yield $1.8 billion in profits. First place on the list was occupied by retail-chain champion Wal-Mart -- as has been the case for several years -- whose turnover hit $378.8 billion during 2007. Despite the tremendous sales figure, the profits of the company reached only $12.73 billion.

In second place was Exxon Mobil, the US oil giant, with $372.8 billion in sales. Exxon enjoyed the largest profits among the 500 companies on the list; however, $40.6 billion came thanks to soaring oil prices, which saw close to a three-fold increase in 2007.  Another global oil company, Royal Dutch Shell, attained the third rank with $355.8 billion in sales and $31.3 billion in profits. The other companies in the top 10 were BP, Toyota Motor, Chevron, ING Group, Total, General Motors and Conoco Phillips.

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