In January-September this year, Bursa based Turkish steelmaker Cemtas Celik Makina Sanayi ve Ticaret AS posted a net profit of TRL 19.6 million compared to the loss of TRL 4.4 million in the corresponding period of 2010.

Total sales revenues of the company in the first 9 months of this year increased 45.2% to TRL 173.2 million as compared to the first nine months of the previous year. In the given period, Cemtas also reported an operating income of TRL 18.6 million compared to an operating loss of TRL 7.02 million in the first 9 months of the previous year.

In the January to September period of the current year, Cemtas' steel billet output totaled 101,178 tonne dropping by 4% YoY while its rolled steel output decreased by 4.1% to 93,020 tonnes compared to the corresponding period of 2010.

Cemtas stated that steel prices were volatile since raw material prices were fluctuating as well as demand. The company expects demand to continue fluctuating in the last quarter of 2011.

(Sourced from Steel Orbis)
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