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 10.17 million ($3.36 million) for the given quarter, compared to a net profit of TRY 2.08 million in the second quarter of the previous year. In the second quarter this year, the sales revenue of the company amounted to TRY 78 million ($25.8 million), rising 23 percent year on year, while the company registered an operating profit of TRY 10.57 million ($3.49 million), increasing from the operating profit of TRY 3.46 million recorded in the same period of 2015.
In the January-June period this year, Cemtas recorded a net profit of TRY 16.1 million ($5.33 million), compared to a net profit of TRY 1.88 million in the first half of the previous year. In the given period, the company’s sales revenue amounted to TRY 144 million ($47.6 million), increasing 26 percent year on year, while it registered an operating profit of TRY 17.24 million ($5.7 million) compared to the operating profit of TRY 3.14 million registered in the first half of 2015.
In the first half of this year, Cemtas' steel billet output totaled 83,808 mt, increasing by 28 percent, while its rolled steel output rose by 42 percent to 79,056 mt, both compared to the corresponding period of the previous year.