Kocaeli-based Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc. has announced its financial results for the first quarter of the current year, posting a net loss of TRY 121,610 ($43,451), compared to a net profit of TRY 1.36 million in the same quarter of the previous year, while the sales revenues of the company increased by 7.5 percent year on year to TRY 33 million ($11.81 million).
In the given quarter, Celik Halat ve Tel Sanayii produced 13,219 metric tons of steel products, down 7.1 percent year on year.
In the January-March period, Celik Halat ve Tel Sanayii's steel rope output totaled 2,686 metric tons, falling 4.62 percent, its galvanized wire production amounted to 1,065 metric tons, up 70.67 percent, spring wire output increased by 1.99 percent to 2,253 metric tons, its pre-stressed wire strand production totaled 7,215 metric tons, declining by 13.3 percent, all compared to the same period of the previous year, while in the given quarter the company did not produce any bead wire.
In the first three months, product sales of Celik Halat ve Tel Sanayi decreased by 1.39 percent year on year to 13,365 metric tons.
Meanwhile, in the first quarter the company invested TRY 170,678 ($60,904) in equipment modernization.