Turkey: Cement producer Adana Çimento has reported that its profit after tax fell by 25% to US$42m in 2011 from US$56m in 2010.
Sales revenue rose by 2% to US$173m in 2011 from US$169m in 2010. Total revenue rose by 6% to US$182 from US$171m. Adana Çimento has recorded profit for the last three years. Notably, the exchange rate between the Turkish Lire and the US Dollar has risen by 22%, to 1.89 per dollar in 2011 from 1.55 in 2010.
