Turkey's Celik Halat ve Tel Sanayi returns to profit in Q3

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 the current year.

In the third quarter, Celik Halat ve Tel Sanayii posted a net profit of TRY 136,782 ($67,813), compared to a net loss of TRY 690,829 in the same quarter of 2012, while the sales revenues of the company increased to TRY 37.6 million ($18.6 million), up 33.5 percent year on year.

In the first nine months of the current year, the Turkish steelmaker registered a net loss of TRY 42,457 ($21,049), compared to a net profit of TRY 1.4 million in the given period of the previous year. In January-September this year, sales revenues amounted to TRY 98.13 million ($48.6 million), up 8.2 percent year on year.

In the first nine months of 2013, Celik Halat ve Tel Sanayii produced 42,202 metric tons of steel products, up nine percent year on year.

In the given period, Celik Halat ve Tel Sanayii's steel rope output totaled 7,841 metric tons, rising by 10.4 percent, its galvanized wire production amounted to 1,692 metric tons, up 65.5 percent, spring wire output increased by 12.8 percent to 5,875 metric tons, its bead wire production decreased by 17.8 percent to 4,263 metric tons, while its pre-stressed wire strand production totaled 22,528 metric tons, increasing by 13.8 percent, all compared to the corresponding period of 2012.

In the first nine months of 2013, product sales of Celik Halat ve Tel Sanayi increased by seven percent year on year to 41,938 metric tons.

source wireworld