Kirsehir, Turkey-based foundry Cemas Dokum Sanayi AS (Cemas) has posted its consolidated financial and operational results for the second quarter and the first half of 2012.
In the second quarter, Cemas posted a net profit of TRY 9.8 million ($5.5 million), compared to a net profit of TRY3.6 million in the corresponding quarter of the previous year. Cemas' sales declined by 8.8 percent year on year in the second quarter this year to TRY 20.6 million ($11.5 million). Meanwhile, in the given quarter the foundry recorded an operating loss of TRY 1.71 million ($955,560) compared to an operating profit of TRY 3.24 million in the second quarter of 2011.
In January-June, Cemas registered a net profit of TRY 9.16 million ($5.1 million) compared to a net profit of TRY 4.47 million in the first half of the previous year. The company's sales in the given period amounted to TRY 38.7 million ($21.5 million), increasing by 2.8 percent year on year. Cemas posted an operating loss of TRY2.11 million ($1.2 million) in the first half this year, compared to an operating profit of TRY 4.3 million in the corresponding period of 2011.
During the first six months of the current year, Cemas' output tonnage amounted to 8,277 mt, down 19.81 percent year on year, while its sales tonnage decreased by 14.21 percent to 8,491 mt compared to the corresponding period of the previous year.