Turkish glassmaker Sisecam's chairman Ahmet Kirman said mid-June that it expects to return to profit in Q2 thanks to the appreciation of the lira & the rouble. He added that the company was maintaining its 2009 targets of USD 2.4BN turnover & 3.3M/t output. "Our loss in Q1 resulted largely from exchange rate changes. We expect to return to profit in Q2 due to the gains in the value of the lira & rouble," Kirman said. In Q1 2009, Sisecam reported a consolidated loss of TRL 10.76M, Anadolu Cam TRL 39.77M & Denizli Cam TRL 892,614, while, on the other hand, Trakya Cam saw a profit of TRL 6.65M. According to Kirman, a 3m cut in the special consumption tax for the automotive sector & white goods has had a positive impact on sales in Q2. He also said that sales were expected to benefit from an agreement limiting Chinese flat glass imports to 25,000/tpa.
