Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the third quarter and the first nine months of this year.
In the third quarter, the company registered a net loss of TRY 3.73 million ($1.33 million), compared to a net profit of TRY 95,096 in the same quarter of the previous year, while its sales revenues decreased by 14.6 percent year on year to TRY 34.16 million ($12.2 million).
During the first nine months of the current year, the wire producer posted a net loss of TRY 3.96 million ($1.41 million), compared to a net profit of TRY 5.28 million in the same period of 2014, while its sales revenues amounted to TRY 100.55 million ($35.8 million), down 15.56 percent year on year.
In the first nine months, Celik Halat ve Tel Sanayii produced 41,005 metric tons of steel products, down 9.11 percent year on year.
In the January-September period this year, Celik Halat ve Tel Sanayii's steel rope output totaled 8,137 metric tons, falling 4.89 percent, its galvanized wire production amounted to 2,577 metric tons, down 0.08 percent, spring wire output decreased by 2.13 percent to 5,685 metric tons, its bead wire production decreased by 93.27 percent to 259 metric tons, while its pre-stressed wire strand production totaled 24,347 metric tons, increasing by 0.13 percent, all compared to the same period of the previous year.
In the first nine months, product sales of Celik Halat ve Tel Sanayi decreased by 11.06 percent year on year to 40,844 metric tons.