Turkey’s Celik Halat ve Tel Sanayii posts higher sales revenues for Q1

Monday, 03 May 2021 11:39:35 (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 quarter of the current year.

The company registered a net loss of TRY 2.96 million ($356,560) in the first quarter of the year, compared to a net loss of TRY 3.63 million recorded in the same period of the previous year, while its sales revenues increased by 42.6 percent year on year to TRY 125.02 million ($27.32 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 46.30 million ($5.56 million), rising by 29 percent, and its galvanized wire sales value increased by 48 percent to TRY 9.05 million ($1.08 million), while its spring wire sales rose by 52 percent to TRY 25.37 million ($3.05 million), all on year-on-year basis.

According to the company’s statement, in the first quarter of the year Celik Halat ve Tel Sanayii’s domestic sales rose by 53 percent, while its overseas sales increased by 32 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 51 percent of its overall sales, from 48 percent recorded in the same period of 2020, while the share of its overseas sales fell to 49 percent, from 52 percent in the first three months of the previous year.


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