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 loss of TRY 11.59 million ($1.58 million) in the first half of the year, compared to a net loss of TRY 4.18 million recorded in the same half of the previous year, while its sales revenues decreased by 17.6 percent year on year to TRY 135.21 million ($18.5 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 55.64 million ($7.6 million), falling by 26 percent and its galvanized wire sales value decreased by 51 percent to TRY 8.11 million ($1.1 million), while its spring wire sales fell by nine percent to TRY 25.34 million ($3.47 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 fell by three percent, while its overseas sales decreased by 26 percent, both on year-on-year basis. In the same period, the company’s domestic sales contributed 49 percent of its overall sales in the first half this year, from 42 percent recorded in the same period of 2019, while the share of its overseas sales fell to 51 percent from 58 percent in the first half of the previous year.