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 profit of TRY 2.09 million ($554,035), compared to a net loss of TRY 45,359 in the same quarter of the previous year, while its sales revenues increased by 55.3 percent year on year to TRY 56.99 million ($15.08 million).
During the first nine months of the current year, the wire producer achieved a net profit of TRY 7.34 million ($1.94 million), compared to a net profit of TRY 2.16 million in the same period of 2016, while its sales revenues amounted to TRY 160.5 million ($42.5 million), up 44.9 percent year on year.
In the first nine months, Celik Halat ve Tel Sanayii produced 44,084 metric tons of steel products, up 6.67 percent year on year.
In the January-September period this year, Celik Halat ve Tel Sanayii's steel rope output totaled 8,843 metric tons, rising by 9.05 percent, its galvanized wire production amounted to 4,013 metric tons, up 44.61 percent, spring wire output decreased by 3.02 percent to 6,353 metric tons, while its pre-stressed wire strand production totaled 24,876 metric tons, increasing by 4.11 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 5.61 percent year on year to 4,752 metric tons.