Kocaeli-based Turkish steel wire and rope producer Çelik Halat ve Tel Sanayii Inc. has announced its financial results for the first half of the current year.
The company registered a net profit of TRY 52.39 million ($2.9 million) in the January-June period of the year, compared to a net profit of TRY 182,662 recorded in the same period of the previous year, while its sales revenues increased by 141.6 percent year on year to TRY 706.52 million ($39.33 million), according to the company’s financial report.
In the given period, Çelik Halat ve Tel Sanayii’s total steel rope sales value amounted to TRY 261.78 million ($14.57 million), rising by 141 percent, its galvanized wire sales increased by 75.1 percent to TRY 35.22 million ($1.96 million), while its spring wire sales rose by 112.9 percent to TRY 125.63 million ($6.99 million), all on year-on-year basis.
According to the company’s statement, in the first half of the year Çelik Halat ve Tel Sanayii’s domestic sales rose by 186 percent, while its overseas sales increased by 102 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 56 percent of its overall sales, from 47 percent recorded in the same period of 2021, while the share of its overseas sales fell to 44 percent, from 53 percent in the first six months of the previous year.