Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the second quarter and the first half of 2012.
In the second quarter, Celik Halat ve Tel Sanayii posted a net profit of TRY 1.05 million ($589,104), increasing from TRY 420,082 in the same quarter of 2011. The sales revenues of the company increased to TRY 30 million ($16.7 million), up 6.6 percent year on year. On the other hand, the producer recorded an operating profit of TRY 823,671 ($458,227) in the given quarter, down from TRY 2.32 million in the second quarter of the previous year.
In the first six months of the current year, the Turkish steelmaker registered a net profit of TRY 2.06 million ($1.14 million), compared to a net loss of TRY 516,451 in the given period of the previous quarter. In the first half, sales revenues amounted to TRY 62.52 million ($34.8 million), up 5.22 percent, while the operating profit decreased by 44.5 percent to TRY 2.12 million ($1.2 million), both year on year.
In the first half of 2012, Celik Halat ve Tel Sanayii produced 26,876 metric tons of steel products, up 8.4 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 4,862 metric tons, rising by 16 percent, its galvanized wire production amounted to 783 metric tons, up 74 percent, spring wire output increased by 31.1 percent to 3,590 metric tons, its bead wire production decreased by 38.5 percent to 3,871 metric tons, the company's single strand rope output totaled 450 metric tons, down 50.6 percent, while its pre-stressed wire strand production totaled 13,365 metric tons, increasing by 31 percent, all compared to the corresponding period of 2011.
In the first six months of 2012, product sales of Celik Halat ve Tel Sanayi increased by 10 percent year on year to 27,063 metric tons. According to the company's statement, exports accounted for 35 percent of the company's total sales in the given period.