Turkish steel producer Yükselen Çelik has stated that its financial results recorded in the third quarter of this year were unusually negative compared to the previous quarters. In the third quarter this year, the company’s net profit came to TRY 3.73 million ($200.440), compared to a net profit of TRY 21.21 million in the same quarter last year. In the given period, Yükselen Çelik registered an operating profit of TRY 32.32 million ($1.73 million), decreasing by 9.8 percent year on year.
Despite the negative results recorded in the third quarter, the company’s investment program continues as usual. With the completion of its investments in 2023, the company’s capacity, which had previously increased from 25,000 mt to 100,000 mt, will be doubled to 200,000 mt.