Mixed bag for Turkish cement producers in 2016

Mixed bag for Turkish cement producers in 2016
07 February 2017

Several cement producers in Turkey have released their results for 2016, showing a mixed performance in the year.

Unye Cimento saw its net profit rise from TRY48.3m (US$13m) in FY15 to TRY58.3m in FY16. The company reported a rise in revenue from TRY222.3m to TRY250.7m over the same period.

Meanwhile, other Turkish cement producers have seen profits fall. Bolu Cimento’s net profit slipped to TRY106.4m in FY16 from TRY106.7m in FY15 while the company’s revenue was up to TRY452.4m from TRY406.3m.

Aslan Cimento reported net profit down to TRY53.4m from TRY54.1m in FY15 although revenues were up to TRY304.9m from TRY277.5m in FY15.

Net profit were also down at Adana Cimento to TRY130.9m in FY16 from TRY144.1m in FY15. Revenues fell from TRY428.1m to TRY384m.

Published under Cement News