Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for 2016.
In the given year, the company posted a net profit of TRY 2.06 million ($569,209), compared to a net profit of TRY 635,679 in 2015, while the sales revenues of the company increased by 9.3 percent year on year to TRY 152.9 million ($42.28 million). The company's operating profit in 2016 amounted to TRY 6.47 million ($1.78 million), falling 23.9 percent compared to 2015.
In 2016, Celik Halat ve Tel Sanayii produced 56,611 metric tons of steel products, up 2.14 percent year on year.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 11,300 metric tons, rising by 1.5 percent, its galvanized wire production amounted to 3,252 metric tons, down 2.3 percent, spring wire output increased by 13.24 percent to 8,808 metric tons, while its pre-stressed wire strand production totaled 33,251 metric tons, increasing by one percent, all compared to the previous year.
In 2016, steel product sales of Celik Halat ve Tel Sanayi increased by 5.54 percent year on year to 57,131 metric tons.