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Revenues of Turkish Petkim petrochemical complex increase

Oil&Gas Materials 26 April 2016 10:46 (UTC +04:00)
The revenues of Turkey’s Petkim petrochemical complex stood at 124.2 million Turkish liras in the first quarter of 2016.
Revenues of Turkish Petkim petrochemical complex increase

Baku, Azerbaijan, Apr.26

By Rufiz Hafizoglu - Trend:

The revenues of Turkey's Petkim petrochemical complex stood at 124.2 million Turkish liras in the first quarter of 2016, according to the preliminary data.

The official exchange rate set by Turkey's Central Bank for Apr.26 is 2.8509 TRY/EURO.

Petkim's revenues totaled 49.6 million liras in the first quarter of 2015, according to the report issued by Turkey's Ak Yatirim company.

The final financial results of Petkim for the first quarter of 2016 are expected to be published in early May.

The assets of Petkim petrochemical complex increased by 44.2 percent and stood at 5.46 billion liras as of Jan.1, 2016 as compared to 3.79 billion liras in 2014.

Petkim's net profit increased by 14 percent in 2015 as compared to 2014 and stood at 639.2 million liras.

Its authorized capital has increased to 1.5 billion liras.

The share of the State Oil Company of Azerbaijan (SOCAR) in Petkim is 48.64 percent.

Petkim produces plastic packaging, detergents and is the sole Turkish producer of such products.

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Follow the author on Twitter: @rhafizoglu

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