On March 8, Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. announced its financial results for 2010, stating that it turned a profit for the year following the loss it reported in 2009.
Celik Halat ve Tel Sanayii's sales revenues in 2010 increased to TRY 98.5 million (approx. $62.2 million), rising from TRY 75.9 million in 2009. On the other hand, the producer recorded an operating profit of TRY 2.8 million (approx. $1.7 million) in 2010, compared to an operating loss of TRY 3.2 million in 2009.
Celik Halat ve Tel Sanayii's net profit for 2010 amounted to TRY 1.6 million (approx. $1 million), compared to a net loss of TRY 3.3 million in the previous year.