Turkey’s Çelik Halat ve Tel Sanayii posts higher net profit and sales revenues for H1

Friday, 12 August 2022 11:00:46 (GMT+3)   |   Istanbul
       

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.


Similar articles

Vietnam’s Hoa Phat to double PC strand capacity with new line

21 Sep | Steel News

Russia’s stainless steel imports down three percent in August from July

15 Sep | Steel News

US drawn wire imports down 1.1 percent in July

13 Sep | Steel News

Russia’s apparent stainless steel consumption up 3.2 percent in H1

09 Sep | Steel News

France’s steel product import value up 54 percent in January-June

08 Sep | Steel News

France’s steel product export value up 49.3 percent in January-June

08 Sep | Steel News

US issues preliminary results of AD review on PC strand from Turkey

05 Sep | Steel News

US drawn wire exports up 10.3 percent in June

22 Aug | Steel News

US drawn wire imports down 5.4 percent in June

11 Aug | Steel News

US announces final results of AD review on PC strand from Thailand

09 Aug | Steel News