Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first nine months of 2011, posting a net loss of TRY 632,090 ($357,968).
In the first nine months of 2011, the sales revenues of Celik Halat ve Tel Sanayii increased to TRY 92.7 million (approx. $52.5 million), rising from TRY 74.1 million in the same period of 2010. On the other hand, the producer recorded an operating profit of TRY 5.1 million (approx. $2.9 million) in the January-September period of the current year.
In the January-September period, Celik Halat ve Tel Sanayii produced 37,450 metric tons of steel products, down 6.7 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 6,585 metric tons, rising by 6.02 percent, its galvanized wire production amounted to 912 metric tons, down 0.4 percent, spring wire output decreased by 0.8 percent to 4,063 metric tons, its bead wire production increased by 9.5 percent to 9,198 metric tons, the company's single strand rope output totaled 1,538 metric tons, down 99.8 percent, while its pre-stressed wire strand production totaled 5,152 metric tons, decreasing by 73.7 percent, all compared to the corresponding period of 2010.
In the first nine months of 2011, product sales of Celik Halat ve Tel Sanayi dropped by 6.8 percent year on year to 37,304 metric tons. According to the company's statement, exports accounted for 25 percent of the company's total sales in the given period.