Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has posted a net profit of TRY 319,937 ($179,845) for the second quarter of 2012, down from the net profit of TRY 8.33 million in the same period of 2011. The company's net profit for the first half of the current year amounted to TRY 3.26 million ($1.83 million) compared to a net profit of TRY 12.82 million in the first half of 2011.
In the second quarter, total sales revenues of the company decreased 10.3 percent year on year to TRY 55.91 million ($31.4 million), while in the first six months Cemtas' sales revenues amounted to TRY 116.11 million ($65.25 million), up 3.4 percent year on year. Cemtas reported an operating income of TRY 341,878 ($192,163) for the second quarter, down from TRY 5.76 million in the corresponding quarter of the previous year. In the first half of 2012, the operating income of the company amounted to TRY 1.9 million ($1.07 million) compared to an operating income of TRY 10 million in the same period of 2011.
Cemtas' steel billet output in the first six months totaled 68,129 mt, increasing by five percent year on year, while its rolled steel output increased by 5.4 percent to 63,950 mt compared to the first half of 2011.