Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the third quarter and the first nine months of this year.
In the third quarter, the company registered a net loss of TRY 45,359 ($13,893), compared to a net loss of TRY 3.73 million in the same quarter of the previous year, while its sales revenues increased by 7.4 percent year on year to TRY 36.69 million ($11.76 million).
During the first nine months of the current year, the wire producer achieved a net profit of TRY 2.16 million ($694,520), compared to a net loss of TRY 3.96 million in the same period of 2015, while its sales revenues amounted to TRY 110.76 million ($35.5 million), up 10 percent year on year.
In the first nine months, Celik Halat ve Tel Sanayii produced 41,328 metric tons of steel products, up 0.79 percent year on year.
In the January-September period this year, Celik Halat ve Tel Sanayii's steel rope output totaled 8,109 metric tons, remaining stable, its galvanized wire production amounted to 2,775 metric tons, up 7.7 percent, spring wire output increased by 15.23 percent to 6,551 metric tons, while its pre-stressed wire strand production totaled 23,893 metric tons, decreasing by 1.87 percent, all compared to the same period of the previous year.
In the first nine months, product sales of Celik Halat ve Tel Sanayi increased by 3.75 percent year on year to 42,375 metric tons.