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 this year.
In the second quarter, the company registered a net loss of TRY 1.6 million ($575,000), compared to a net profit of TRY 2.47 million in the same quarter of the previous year, while its sales revenues decreased by 15 percent year on year to TRY 35.63 million ($12.8 million).
During the first half of the current year, the wire producer posted a net loss of TRY 235,188 ($84,515), compared to a net profit of TRY 5.2 million in the same period of 2014, while the sales revenues amounted to TRY 66.4 million ($23.86 million), down 16.02 percent year on year.
In the first six months, Celik Halat ve Tel Sanayii produced 27,827 metric tons of steel products, down 7.74 percent year on year.
In the January-June period, Celik Halat ve Tel Sanayii's steel rope output totaled 5,438 metric tons, falling 5.49 percent, its galvanized wire production amounted to 1,624 metric tons, down 6.88 percent, spring wire output increased by 2.84 percent to 4,053 metric tons, its bead wire production decreased by 90.27 percent to 259 metric tons, while its pre-stressed wire strand production totaled 16,453 metric tons, increasing by 2.43 percent, all compared to the same period of the previous year.
In the first six months, product sales of Celik Halat ve Tel Sanayi decreased by 10.43 percent year on year to 27,582 metric tons.