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 profit of TRY 2.19 million ($619,397), compared to a net profit of TRY 2.33 million in the same quarter of the previous year, while its sales revenues increased by 34 percent year on year to TRY 54.97 million ($15.55 million).
During the first half of the current year, the wire producer achieved a net profit of TRY 5.25 million ($1.48 million), compared to a net profit of TRY 2.21 million recorded in the same period of 2016, while its sales revenues amounted to TRY 103.5 million ($29.28 million), up 39.7 percent year on year.
In the first six months, Celik Halat ve Tel Sanayii produced 29,895 metric tons of steel products, up 6.08 percent year on year.
In the January-June period, Celik Halat ve Tel Sanayii's steel rope output totaled 5,954 metric tons, rising 8.06 percent, its galvanized wire production amounted to 2,544 metric tons, up 8.12 percent and spring wire output decreased by 10.44 percent to 4,343 metric tons, while its pre-stressed wire strand production totaled 17,054 metric tons, rising by 10.25 percent, all compared to the same period of the previous year.
In the first six months, product sales of Celik Halat ve Tel Sanayi increased by 5.06 percent year on year to 30,266 metric tons