Steel Wire and Rope Producer Celik Halat Announces Net Loss in H1

Kocaeli based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc has announced its financial results for the Q2 and the first half of the current year.

In the Q2, Celik Halat ve Tel Sanayii posted a net profit of USD 103,796, compared to a net profit of 1.05 million in the same quarter of 2012. The sales revenues of the company increased to USD 17.25 million, up 10.6% YoY.

In the first 6 months of the current year, the Turkish steelmaker registered a net loss of USD 93,251, compared to a net profit of TRY 2.06 million in the given period of the previous year. In the first half, sales revenues amounted to USD 31.45 million down 3.2% YoY.

In the first half of 2013, Celik Halat ve Tel Sanayii produced 27,589 tonne of steel products up 2.65% YoY.

In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 5,221 tonne rising by 7.4%, its galvanized wire production amounted to 884 tonne, up 19.8%, spring wire output increased by 8.7% to 3,901 tonne, its bead wire production decreased by 38.5% to 2,939 tonne, while its pre stressed wire strand production totaled 14,644 tonne, increasing by 9.6%, all compared to the corresponding period of 2012.During the first half, the company reported zero production of single strand rope.

In the first 6 months of 2013, product sales of Celik Halat ve Tel Sanayi increased by a slight margin of 1.07% YoY to 27,352 tonne.

source from wireworld