Turkish defense giant ASELSAN's profits rise in 2016

Turkey's leading defense systems producer ASELSAN has reported an increase of 273 percent in its net profit in 2016 compared with 2015, according to the company's 2016 report.

ASELSAN said its order book reached $6.2 billion in the year, making 795 million Turkish liras ($220 million- consolidated) profit, which is an increase of 273 percent compared with 213 million Turkish liras ($59.6 million) in 2015.

The company's sales also increased by 36 percent to 3.76 billion liras ($1.04 billion), including 485 million lira ($235 million) of orders from overseas, up from 2.78 billion Turkish liras in 2015.

ASELSAN is ranked 58th in the list of the world's top 100 defense giants in 2016, according to the prestigious U.S. weekly, Defense News.