Turkey’s Celik Halat ve Tel Sanayii sees strong rise in Q2 net profit

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 the current year.
 
In the second quarter, the company posted a net profit of TRY 2.47 million ($1.15 million), compared to a net profit of TRY 199,604 in the same quarter of 2013, while the sales revenues of the company increased by 26 percent year on year to TRY 41.8 million ($19.4 million).
 
In the first six months, Celik Halat ve Tel Sanayii registered a net profit of TRY 5.2 million ($2.4 million), compared to a net loss of TRY 179,239 in the corresponding period of the previous year. The company's sales revenues in the given period amounted to TRY 79 million ($36.7 million), rising 30.6 percent year on year.
 
In the first six months of 2014, Celik Halat ve Tel Sanayii produced 30,170 metric tons of steel products, up 9.4 percent year on year.
 
In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 5,754 metric tons, rising by 10.2 percent, its galvanized wire production amounted to 1,744 metric tons, up 97.2 percent, spring wire output increased by one percent to 3,941 metric tons, its bead wire production decreased by 9.4 percent to 2,661 metric tons, while its pre-stressed wire strand production totaled 16,063 metric tons, increasing by 9.7 percent, all compared to the corresponding period of the previous year. In the first half, the company produced only seven metric tons of single-strand rope.
 
In the first half this year, product sales of Celik Halat ve Tel Sanayi increased by 12.6 percent year on year to 30,799 metric tons.