Turkey's Çelik Halat ve Tel Sanayii reports net profit for 2023, optimistic long-term outlook. The Kocaeli-based steel wire and rope producer disclosed a net profit of TRY 36.64 million in 2023, contrasting with a loss in 2022. Sales revenues dipped by 38.6% to TRY 1.70 billion. Despite market challenges, the company anticipates favorable outcomes ahead, leveraging lower raw material costs and stable freight expenses to expand into new global markets, with Europe being its primary export destination.