Turkey: Four Turkish cement producers have released annual financial results for the 2011 calendar year. Bolu Cement saw its total revenue increase by 22.2% to Euro79.7m and a net profit increase of 44.7% to Euro8.8m, ensuring profits in each of the last three years.
Meanwhile, Adana Cement saw a total revenue of Euro144.7m in 2011, up by 6.7% year-on-year. It extended its profit run to four consecutive years, although this slumped by nearly a quarter to Euro33.7m.
Cimsa Cimento saw a fifth consecutive year of strong results, with revenue and net profit both up. Revenue hit Euro352m, up 12% year-on-year and net profit was up by 19% to Euro54m.
Baticim Bati Anadolu Cimento also saw an increase in its revenue, a 10.6% increase to Euro158.4m and a near-70% increase in net profit, which rose to Euro11.1m from a low base.