5/11/2016
TÜMOSAN Net Profit Increases by 16.1% in 2016
TÜMOSAN announced TL 10.1 million net profits for the first quarter of 2016
Tümosan Motor ve Traktör Sanayi A.Ş. (TÜMOSAN) announced a net profit of TL 10.1 million for the first quarter of 2016. TÜMOSAN’s total sales for the period was recorded to be TL 108.6 million with an increase of 16.1 percent in net profits in comparison with the same period last year. TÜMOSAN General Director Kurtuluş Öğün stated that the improvements effected in efficiency and quality since 2015 have been reflected positively in the balance sheets. Stating that the company has been maintaining a trend of increasing sales during the first quarter of the year despite the unfavourable developments in the region added that they are currently improving product diversity with the addition of agricultural machinery and stacking machinery in addition to tractors thus enabling them to access new markets. Öğün remarked as follows regarding the balance sheet results: “We are continuing to grow with the marketing of new products in the equipment market we recently ventured into in the year 2015 with the addition of baling machines and diggers in addition to tractors. Similarly, we are beginning to see the positive effect of or growing product portfolio on our income with the addition of forklift sales within the scope of stacking machines lines. We have increased the capacity of one of our affiliates, Tümosan Foundry, two fold thanks to our efforts in efficiency improvements and this increase in capacity is reflected proportionally in our profitability. On the other hand, tank power group development projects and our efforts focussed on railway systems are currently according to schedule”. As was reported earlier, Tümosan announced that they have signed a partnership agreement with the Spanish company, Talgo and was preparing for the 80 high speed trains procurement tender to be administered by TCDD with the local manufacture conditions.
Annual Report
