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01 Aug

Borusan first-half performance skyrockets, sees pre-war prices return

Turkish pipemaker Borusan Mannesmann grew shipments and earnings significantly in the first half of 2022, Kallanish notes. Revenue in the second quarter alone more than trebled on-year to TRY 4.88 billion ($272.2 million), while net profit soared 271% to TRY 276.65m. Prices fell back below pre-Ukraine war levels by the end of Q2 due to the decline in Chinese iron ore demand and India's supply of low-priced feedstock to the market, Borusan says. The problem of…
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Adam Smith  |  Poland
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