Oyak Cement Group nine-month net profit surges

Oyak Cement Group said its net profit rose by 84 per cent YoY to TRL335.6m (US$150.1m) in the first nine months of 2014.

The group, which includes listed companies Adana Cimento, Mardin Cimento, Bolu Cimento, Unye Cimento and Aslan Cimento, said in a statement on Friday that its operating profit increased 37 per cent to TRL338.5m through September and revenue rose 18 per cent to TRL1.1bn.

Adana Cimento contributed TRL331.6m to the group revenue in the nine months under review, registering an 11 per cent rise. Mardin Cimento’s revenue increased eight per cent  to TRL156.9m, Bolu Cimento's revenue was up 31 per cent to TRL249.4m, Unye Cimento posted nine per cent revenue growth to TRL188.1m and Aslan Cimento’s revenue soared 40 per cent to TRL179.8m over the review period.