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Turkey’s Cemtas’ sales revenues up 65.5 percent in H1

Friday, 10 August 2018 14:10:42 (GMT+3)   |   Istanbul
       

Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for the second quarter and first half of the current year.

Accordingly, Cemtas has reported a net profit of TRY 32.24 million ($5.42 million) for the given quarter, compared to a net profit of TRY 11.78 million in the second quarter of the previous year. In the second quarter this year, the sales revenue of the company amounted to TRY 168.99 million ($28.35 million), rising 59 percent year on year, while the company registered an operating profit of TRY 46.22 million ($7.75 million), increasing from the operating profit of TRY 15.07 million recorded in the same period of 2017.

In the January-June period this year, Cemtas recorded a net profit of TRY 55.86 million ($9.36 million), compared to a net profit of TRY 25.58 million in the first half of the previous year. In the given period, the company’s sales revenue amounted to TRY 339.81 million ($57.04 million), increasing 65.5 percent year on year, while it registered an operating profit of TRY 79.47 million ($13.34 million) compared to the operating profit of TRY 34.64 million registered in the first half of the previous year.

In the first half of this year, Cemtas' steel billet output totaled 92,138 mt, increasing by 12.1 percent, while its rolled steel output rose by 4.6 percent to 81,440 mt, both compared to the corresponding period of the previous year. The company’s total steel sales in the given period amounted to 82,859 mt, up 6.2 percent year on year.


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