Mixed 3Q16 results for Turkey's cement producers

Mixed 3Q16 results for Turkey's cement producers
01 November 2016

Turkish cement manufacturers Mardin Cimento, Adana Cimento, Unye Cimento, Bolu Cimento and Aslan Cimento have reported their third-quarter results for the July-September 2016 period. Mardin and Adana registered a decline in net profit while Unye, Bolu and Aslan witnessed an increase.

Mardin Cimento's net profit for 3Q landed at TRY8.8m (US$2.8m) compared to TRY13.8m last year. Revenue for the period was reported at TRY36.8m versus TRY37.8m in the same period last year.

Adana Cimento's net profit for the period under review fell to TRY29.2m from TRY32.6m. The company's revenue for the 3Q was TRY96.7m versus TRY102.7m in the year prior.

Unye Cimento's 3Q net profit rose from TRY14.3m in 3Q15 to TRY14.9m this year. Revenue for the given period increased to TRY63.6m, up from TRY57.6m in the year-ago period.

Bolu Cimento reported a net profit in the third quarter of TRY31m compared to TRY27.4m in 3Q15. Third-quarter revenue was TRY114.8m, a slight decline on the TRY115.4m reported last year.

Aslan Cimento's 3Q net profit was registered at TRY12.8m, approximately 37 per cent high than the TRY9.4m noted in the same period last year. 3Q16 landed at TRY71.5m versus TRY 65.6m a year ago.

Published under Cement News