Baku, Azerbaijan, Nov.11
By Emil Ismayilov - Trend:
The net profit of Turkish Petkim petrochemical holding, in which the SOCAR Company (State Oil Company of Azerbaijan) has equity participation of 61.32 percent, reached 2.56 million TRY (Turkish lira) in January-September 2014 versus 48.6 million TRY in January-September 2013, said a statement posted on the Petkim website.
The official exchange rate for November 11 is 2,2469 TRY / USD.
In 2013, Petkim earned net profit worth 49 million TRY.
"During the reporting period, the turnover of the holding was 3.3 billion TRY, gross profit - 132.6 million TRY, net profit - 2.56 million TRY," the report said.
On March 30, 2012 SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 percent stake in Petkim, increasing SOCAR's stake in the company to 61.32 percent. Some 38.68 percent is in free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which is exported by the company.