In the quarter, the company reported a net profit of 70.09 million Turkish liras ($1.54 million), compared with a net loss of 249.99 million Turkish liras in the same quarter of the previous year. Yukselen Celik recorded an operating profit of 72.84 million Turkish liras ($1.6 million) for the period, compared with an operating loss of 290.53 million Turkish liras in the same quarter of the previous year, while sales revenue increased by 22.8% year-on-year to 424.27 million Turkish liras ($9.34 million).
The company said it is continuing its overseas subsidiary activities to strengthen its competitiveness in international markets and increase export earnings.
The statement also highlights sectoral risks. It was noted that sharp fluctuations in steel prices could put pressure on inventory costs and profitability. In addition, due to the sector's high dependence on imported factors of production, changes in exchange rates have a direct impact on costs.
