Mavi's FY17 net profit soars 74 percent, revenues up 36 percent

Mavi Giyim Sanayi ve Ticaret A.Ş. recorded double-digit revenue growth across all channels and categories, and in its home market Turkey and abroad. Compared to the same period last year, consolidated revenue increased by 36 percent to 1,782 million Turkish lira (457.6 million dollars), while EBITDA grew by 48 percent to 252 million Turkish lira (64.7 million dollars), with an EBITDA margin of 14.1 percent. The company reported profit growth of 74 percent to 90 million Turkish lira (23.1 million dollars) as it continued its global retail store and e-commerce expansion strategy.