Oyak Cement Group posts €73m net profit in Jan-Sep 2011

Oyak Cement Group posts €73m net profit in Jan-Sep 2011
Published: 22 November 2011

Oyak Cement Group issued a statement to the ISE and said that the group companies posted a net profit of TRY 183m (€73m) and a sales revenues of TRY 830m in January-September. 15 ISE-listed cement companies posted a turnover of TRY4.3bn and a net profit of TRY504m in the same period, according to the statement from Oyak.

Domestic cement demand increased by 12% YoY in H1 and Oyak Group retails its expectations that domestic cement sales will increase by 8% YoY in 2011 as a whole. The group’s Mardin Cimento recorded an EBITDA margin of 38.7%, net income margin of 31.4%, and return on capital of 21.1% and a dividend yield of 10.1% in the first nine months, showing the best performance among the 15 ISE-listed cement companies in all these fields, the statement details.