Turkey's leading steel pipe producer Borusan Mannesmann Boru has announced its financial results for the second quarter and the first half of the current year, posting a net profit of TRY 101.69 million ($28.71 million) in the second quarter, rising from TRY 50.15 million in the corresponding quarter of the previous year. In the given quarter, Borusan Mannesmann's sales revenues improved by 53.8 percent year on year to TRY 779.3 million ($220.02 million), while its operating profit amounted to TRY 112.37 million ($31.73 million), compared to an operating profit of TRY 65.72 million in the second quarter of 2016.
During the first six months of the current year, Borusan Mannesmann recorded a net profit of TRY 119.18 million ($33.65 million) compared to a net profit of TRY 67.33 million in the same period of 2016, while the company's sales revenues increased to TRY 1.32 billion ($373.32 million), up 31 percent, both year on year. In the first half, the company's operating profit amounted to TRY 152.66 million ($43.10 million), increasing from TRY 108.16 million in the first half of the previous year.
In the first six months of the current year, 65 percent of the company’s premium quality product sales were directed to export markets. In the given period, the company’s turnover from value-added spirally-welded pipe sales accounted for 18 percent of total premium quality product sales, while its pressurized, special and spiral product sales volume accounted for 66 percent of its total premium quality product sales volume