Turkey’s Celik Halat ve Tel Sanayii’s gross revenues rose by 114pc to TRY302.9mn ($35.6mn) in H1 2021 against the same year-ago period.
In the six-month 2021 period, gross domestic sales grew by 106pc against the same year-ago period after foreign sales rose by 121pc in the same timeframe. Domestic sales decreased from 49pc to 47pc of total sales while export sales rose from 51pc to 53pc in H1 2021 against the same year-ago period.
The company’s revenue from its multi-bunch rope business increased by 95pc to TRY108.7mn against the same period last year. Pre-tension concrete bundle segment rose by 118pc to TRY110.9mn, spring wire grew by 133pc to TRY59mn, galvanized wire climbed by 148pc to TRY20mn, and other segment revenue rose by 168pc to TRY4mn during the same period.
Celik Halat is recognizing an increase in proceeds of 116pc to TRY292mn in H1 2021 against TRY135mn in the prior year, up TRY10.9mn compared to the product group breakdown due to consolidation reporting rules and exchange calculations.
Gross profit more than doubled to TRY44.4mn in H1 2021 compared to TRY18.8mn in the prior year timeframe. Operating profit moved from a loss of TRY991,708 in H1 2020 to a gain of TRY7mn in H1 2021. The company’s net income was TRY182,662 in H1 2021 compared to the loss of TRY11.6mn.
Celik Halat is owned 70pc by Dogan Group Holding and 30pc by Borsa Istanbul with 406 total employees with 300 plant workers subject to collective bargaining agreements. The company was established in 1962 in Kocaeli and produces steel wire solutions.