Turkey’s Celik Halat ve Tel Sanayi posts net profit for Q1
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Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter of 2012, posting a net profit of TRY 1 million ($570,036).
In the first quarter, the sales revenues of Celik Halat ve Tel Sanayii increased to TRY 32.5 million (approx. $18.5 million), up 3.9 percent compared to the same period of 2011. On the other hand, the producer recorded an operating profit of TRY 1.3 million (approx. $740,000 million) in the given quarter, down 14 percent year on year.
In the first quarter, Celik Halat ve Tel Sanayii produced 14,406 metric tons of steel products, up 6.9 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 2,496 metric tons, rising by 14.9 percent, its galvanized wire production amounted to 398 metric tons, up 128 percent, spring wire output increased by 28.8 percent to 2,074 metric tons, its bead wire production decreased by 27.1 percent to 2,300 metric tons, the company's single strand rope output totaled 450 metric tons, up 26 percent, while its pre-stressed wire strand production totaled 6,688 metric tons, increasing by 11.3 percent, all compared to the corresponding period of 2011.
In the first three months of 2012, product sales of Celik Halat ve Tel Sanayi increased by 4.8 percent year on year to 14,173 metric tons. According to the company's statement, exports accounted for 34 percent of the company's total sales in the given period.