Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS has announced its financial results for the Q2 and the H1 of 2012.

In the Q2, Kardemir posted a net profit of TRL 64.08 million up 24.7% compared to the same quarter of the previous year. Sales revenues of the company increased by 7 % YoY to TRL 454 million. The company registered an operating profit of TRL 80.72 million in the Q2 this year up 26.7% YoY.

In the first 6 months of the current year, Kardemir registered a net profit of TRL 139.2 million up 42.1% compared to the corresponding period of the previous year. Kardemir's sales revenues in the given period reached TRL 869 million up 20.7% YoY while the company posted an operating profit of TRL 143.5 million compared to an operating profit of TRL 108.12 million in the H1 of 2011.

In the H1 2012, Kardemir produced 370,050 tonne of metallurgical coke up 0.6%, 745,177 tonne of crude steel up 14.1% and 67,541 tonnes of pig iron increasing by 98% all compared to the H1 of the previous year. Meanwhile, in the period in question the company's billet output totaled 527,054 tonnes increasing by 10.3% while its bloom output amounted to 201,632 tonnes rising by 25.5% both compared to the corresponding period of 2011.

During the given period, Kardemir's rebar output increased by 16% to 326,437 tonnes its steel section production increased by 26.7% to 68,064 tonnes while its rail product output totaled 51,962 tonnes down 19.1% all compared to the H1 of the previous year.

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