Cemtas posts net profit for 2011

Friday, 10 February 2012 12:18:48 (GMT+2)

Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has posted a net profit of TRY 23.75 million ($13.5 million) for 2011, compared to a loss of TRY 4.06 million in 2010.

In 2011, total sales revenues of the company increased 36.7 percent year on year to TRY 229.55 million ($130.5 million). Cemtas also reported an operating income of TRY 23.6 million ($13.4 million) for the given year, compared to an operating loss of TRY 7.8 million in the previous year.

Cemtas' 2011 steel billet output totaled 133,872 mt, dropping by five percent year on year, while its rolled steel output decreased by 3.2 percent to 123,941 mt compared to 2010.
 
Cemtas also stated that in 2011 it registered an export value of approximately $82 million, while its imports of consumables amounted to $8 million.

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