Turkey’s Celik Halat ve Tel Sanayi posts net profit for Q1

Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter this year, posting a net profit of TRY 2.7 million ($1.3 million), compared to a net loss of TRY 378,843 in the same quarter of 2013, while the sales revenues of the company increased by 36 percent year on year to TRY 37.2 million ($15.6 million).
 
In the first three months of 2014, Celik Halat ve Tel Sanayii produced 14,614 metric tons of steel products, up 8.6 percent year on year.
 
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 2,946 metric tons, rising by 16.7 percent, its galvanized wire production amounted to 660 metric tons, up 67.5 percent, spring wire output increased by 12.7 percent to 2,007 metric tons, its bead wire production decreased by 15.4 percent to 1,352 metric tons, while its pre-stressed wire strand production totaled 7,649 metric tons, increasing by 6.9 percent, all compared to the corresponding period of the previous year.
 
In the first quarter this year, product sales of Celik Halat ve Tel Sanayi increased by 15.8 percent year on year to 15,227 metric tons.