Bursa-based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret A.S (Cemtas) has announced its financial results for 2016.
Cemtas has reported a net profit of TRY 28.7 million ($7.78 million) for 2016, compared to a net profit of TRY 7.72 million recorded in 2015. In the given year, the sales revenue of the company amounted to TRY 296.68 million ($80.45 million), rising by 15.5 percent year on year, while its operating income was TRY 33.18 million ($8.99 million), increasing from an operating income of TRY 12.59 million in the previous year.
In 2016, Cemtas's steel billet output totaled 160,428 mt, increasing by 14 percent, while its rolled steel output rose by 15 percent to 150,850 mt, both compared to the previous year.
According to Cemtas, in the current year it will continue its investments in equipment and it will also start production at its new continuous heat treatment furnace.