Azernews.Az

Thursday June 30 2022

Turkish company TUMOSAN's quarterly revenue hits over $33 million

12 May 2022 18:49 (UTC+04:00)
Turkish company TUMOSAN's quarterly revenue hits over $33 million

By News Center

The Turkish Machinery Company TUMOSAN’s revenue has amounted to 512 million TL ($33.2 million) in the first three months of 2022, Yeni Shafak newspaper has reported.

According to the independent audit reports, TUMOSAN increased its revenue by 247 million TL ($16 million) in the first quarter of 2022 compared to the same period of the previous year and achieved a net profit of 97.2 million TL ($6.3 million), the report added.

Moreover, in the first quarter, the company’s assets increased by 52 percent compared to the same period of the previous year and reached 2.3 billion TL ($149 million).

"It is pleasing to see the positive results of TUMOSAN’s 2021-2025 strategic plan’s investment and efficiency targets in the first quarter of 2022," TUMOSAN General Manager Halim Tosun stressed.

He underlined that new opportunities are expected to emerge for the economy in 2022 and 2023.

“Our confidence in our country's economy has never decreased. Our investments, which we started in the last quarter of 2021, will continue to increase,” he added.

Reminding the negative effect of the pandemic on the commodity and energy prices, Tosun noted that the situation even worsened due to the ongoing Russia-Ukraine war, adding that a number of challenges such as supply, logistics, and production problems associated with it. However, the general manager expressed optimism noting that the situation is temporary.

“Our country will emerge from this global crisis by gaining significant opportunities and getting stronger. As a company, we will evaluate the investment opportunities that arise from this crisis more effectively and we will continue to contribute to the country's economy and employment.”

---

Follow us on Twitter @AzerNewsAz

Loading...
Latest View more