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Turkey’s Yükselen Çelik posts higher net loss in H1

Tuesday, 01 October 2024 11:20:07 (GMT+3)   |   Istanbul
       

Turkish steel producer Yükselen Çelik has announced its financial results for the first half this year.

In the first half, Yükselen Çelik posted a net loss of TRY 162.04 million ($4.74 million), up by 251.7 percent compared to the net loss of TRY 46.07 million in the same period of the previous year. The company registered an operating loss of TRY 81.04 million ($2.37 million) in the given period, compared to an operating profit of TRY 46.96 million in the same period last year, while its sales revenues decreased by 13.9 percent due to lower prices and weak demand to TRY 739.03 million ($21.61 million).

The company’s sales volume amounted to 15,969 mt in the given period, up by 3.8 percent year on year.


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