CFO of BIM retail group: “Our 12-month inflation is around 110 percent”
BIM CFO stated that their 12-month inflation was around 110 percent and they had revised the turnover increase at a rate exceeding 100 percent.
According to Bloomberg HT’s news, the CFO stated that they had realized a salary increase corresponding to 37.5 percent in the first 6 months in parallel with the increase in the minimum wage and said, “In the same way, there are similar increases in rents. However, as inflation is currently on an upward trend, we have revised our current forecast to an annual turnover growth expectation of over 100 percent.”
He noted that the overall turnover increases were also above these figures, adding “So this is in a manageable situation right now, but we don’t know where inflation will take us tomorrow. If you ask us for today, our 12-month inflation is currently around 110 percent and it seems that Turkey will close with a high inflation at the end of the year. In this direction, we have revised our annual turnover increase by more than 100 percent.”
