Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the second quarter and the first half of this year.
In the second quarter, the company registered a net profit of TRY 2.33 million ($777,168), compared to a net loss of TRY 1.6 million in the same quarter of the previous year, while its sales revenues increased by 15 percent year on year to TRY 41 million ($13.6 million).
During the first half of the current year, the wire producer posted a net profit of TRY 2.21 million ($736,716), compared to a net loss of TRY 235,188 in the same period of 2015, while the sales revenues amounted to TRY 74.06 million ($24.68 million), up 11.5 percent year on year.
In the first six months, Celik Halat ve Tel Sanayii produced 28,181 metric tons of steel products, up 1.27 percent year on year.
In the January-June period, Celik Halat ve Tel Sanayii's steel rope output totaled 5,510 metric tons, rising 1.32 percent, its galvanized wire production amounted to 2,353 metric tons, up 44.89 percent and spring wire output increased by 19.64 percent to 4,849 metric tons, while its pre-stressed wire strand production totaled 15,469 metric tons, decreasing by 5.98 percent, all compared to the same period of the previous year.
In the first six months, product sales of Celik Halat ve Tel Sanayi increased by 4.44 percent year on year to 28,807 metric tons.