Kocaeli-based Turkish steel wire and rope producer Çelik Halat ve Tel Sanayii Inc. has announced its financial results for the first nine months of the current year.
The company registered a net profit of TRY 25.48 million ($1.36 million) in the January-September period of the year, compared to a net profit of TRY 2.32 million recorded in the same period of the previous year, while its sales revenues increased by 137.1 percent year on year to TRY 1.07 billion ($57.78 million).
In the given period, Çelik Halat ve Tel Sanayii’s total steel rope sales value amounted to TRY 420.94 million ($22.6 million), rising by 132 percent, its galvanized wire sales increased by 90.7 percent to TRY 58.56 million ($3.14 million), while its spring wire sales rose by 103.9 percent to TRY 184.69 million ($9.91 million), all on year-on-year basis.
According to the company’s statement, in the first nine months of the year Çelik Halat ve Tel Sanayii’s domestic sales rose by 164 percent, while its overseas sales increased by 111 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 52 percent of its overall sales, from 47 percent recorded in the same period of 2021, while the share of its overseas sales fell to 48 percent, from 53 percent in the first nine months of the previous year.
