Cimsa increases Jan-Sept 2005 net profits

Cimsa increases Jan-Sept 2005 net profits
Published: 25 November 2005

Turkish cement producer Cimsa posted a 79.44 mln new Turkish lira ($58.47m) consolidated net profit for the first nine months of 2005, up from 45.55 mln lira ($33.54m) for the same period in 2004.  Operating profit stood at 102.88 mln lira ($75.76m), up from 77.55 mln lira ($57.1m).  Net sales revenue was 274.695 mln lira ($202.28m), up from 231.46 mln ($170.44m). 

Cimsa, part of local industrial conglomerate Sabanci Holding, recently bought northern Cyprus-based sector company Ercim Cimento for US$500,000 and Standart Cimento, other sector company based in Eskisehir, western Turkey for US$175.5m.