The latest report of Koç Holding showed that the net profit of the holding as one of the biggest capitalist groups has increased to 1.42 billion TL in the second quarter of 2017. The number represents a 54.4% rate of increase compared to the first quarter of the year.
The total revenue of the holding, similarly, showed an increase rate of 36%, reaching to 23.2 billion TL.
Ironically, it is commonly thought that the state of emergency that has been extended since it was first introduced after the failed coup attempt in July 2016 is harmful for the business world in Turkey. However, Koç Holding has also been the only capital from Turkey listed in the 2017 Fortune 500.
During the AKP era in Turkey, Koç Holding somehow represented the secular part of Turkish capitalists. Also, representatives of Koç Holding tried to grasp the sympathy of people with their false employee-friendly discourses. Top representative of Koç Holding, Ali Koç, is recently known by his interesting declarations that income inequality must be decreased because it is not socially sustainable.
The image that the Koç Holding representatives are against the policies of the AKP has proved to be illusionary as the close relationship between the capitalists and the AKP is disclosed. The biggest capitalists seem to be happy with Erdoğan’s attempt to restore and strengthen relations with Turkey’s traditional capitalists after the coup attempt.
The biggest capitalists, including Koç Holding, have made public announcements every day, supporting Erdoğan’s inconsistent and unfounded foreign policy. Also, in a recent commemoration event, a joint declaration has been made by Turkish capitalists along with several pro-AKP trade unions, declaring that they are satisfied with the economic growth in Turkey after the coup attempt.
