Turkey’s Celik Halat ve Tel Sanayii posts higher sales revenues for H1

Thursday, 12 August 2021 17:45:41 (GMT+3)   |   Istanbul

Kocaeli-based Turkish steel wire and rope producer Celik 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 182,662 ($21,339) in the January-June period of the year, compared to a net loss of TRY 11.59 million recorded in the same period of the previous year, while its sales revenues increased by 116.2 percent year on year to TRY 292.40 million ($34.16 million), according to the company’s financial report.

In the given period, Celik Halat ve Tel Sanayii’s total steel rope sales value amounted to TRY 108.67 million ($12.69 million), rising by 95.3 percent, and its galvanized wire sales value increased by 148 percent to TRY 20.11 million ($2.35 million), while its spring wire sales rose by 132.9 percent to TRY 59.01 million ($6.89 million), all on year-on-year basis.

According to the company’s statement, in the first half of the year Celik Halat ve Tel Sanayii’s domestic sales rose by 106 percent, while its overseas sales increased by 121 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 47 percent of its overall sales, from 49 percent recorded in the same period of 2020, while the share of its overseas sales fell to 53 percent, from 51 percent in the first six months of the previous year.

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