UFS Investment Company: We feel positive about MMK Group

‘We feel quite positive about MMK Group’s production performance,’ UFS Investment Company reports.

‘The fact that the group’s Turkey-based enterprise is about to reach its projected capacity means the year’s output will increase considerably. In the meantime, the main production site shows some signs of recovery after a not so successful first half of the year. We expect the company to reach its target sales figures and its financial results to be comparable with the forecasts due to growing produce prices,’ the experts say.

MMK Group came up with its operational results for the third quarter of 2011 and for the nine months of 2011 today.

The Group’s total steel output rose by 13% in the third quarter of 2011 compared with the previous quarter and came to 3.182m tons. The total metal goods output increased by 13% and reached 2.953m tons.

ÌÌÊ-Metalurji (the company’s Turkish asset) produced 162,000 tons of goods in the third quarter of 2011 (which was 93% more than in the second quarter). All in all, the company manufactured 274,000 tons of goods in the nine months of 2011, which was nearly 2.5 times better than in the nine months of 2010.

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