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Turkish Conglomerate Readies Shift to Hyperinflation Accounting

Intensifying price pressures in Turkey are forcing one of the nation’s biggest conglomerates to shift to hyperinflationary accounting, following in the footsteps of Vodafone Group Plc, ING Groep and others. 

“Our companies will make preparations and see how the results look,” Sabanci Holding Chief Financial Officer Orhun Kostem said in an interview with BloombergHT on Friday. “We want to at least glance at the results in the third quarter, and I think we’ll launch it as of full-year results,” Kostem said, referring to the adoption of so-called hyperinflationary accounting.