Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first half of 2011, posting a net loss of TRY 516,451 ($289,841).
In the first six months of 2011, the sales revenues of Celik Halat ve Tel Sanayii increased to TRY 58 million (approx. $32.6 million), rising from TRY 46.27 million in the same period of 2010. On the other hand, the producer recorded an operating profit of TRY 3.8 million (approx. $2.1 million) in the first half of the current year.
In the first half of 2011, Celik Halat ve Tel Sanayii produced 24,787 metric tons of steel products, down eight percent compared to the company's H1 2010 output.
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 4,191 metric tons, rising by 1.6 percent, its galvanized wire production amounted to 450 metric tons, down 22 percent, spring wire output rose by 5.7 percent to 2,738 metric tons, its bead wire production increased by 11.4 percent to 6,295 metric tons, the company's single strand rope output totaled 912 metric tons, up 61.4 percent, while its pre-stressed wire strand production totaled 10,201 metric tons, decreasing by 24.15 percent, all compared to the corresponding period of 2010.
In H1 2011, product sales of Celik Halat ve Tel Sanayi dropped by 8.7 percent year on year to 24,610 metric tons. According to the company's statement, exports accounted for 35 percent of the company's total sales in the given period.