Increase in Turkish Petkim’s profits

Oil&Gas Materials 26 December 2013 13:04 (UTC +04:00)

Baku, Azerbaijan, Dec.26
by Emil Ismayilov - Trend:

The net profit of Turkish Petrochemical Holding Petkim, where SOCAR has equity totalled 48.6 million Turkish liras in January - September 2013 compared to loss worth 27 million Turkish liras in the same period of last year, Petkim reported on Wednesday.

According to the report, Petkim's total sale volume amounted to about 2.97 billion Turkish liras in January- September compared to 3.41 billion liras in the same period in 2012.

The prime cost of goods sold by the holding exceeded 2.75 billion Turkish liras compared to over 3.36 billion Turkish liras in January-September 2012. The total sale volume during the period amounted to 1.2 million tons of petrochemical products.

SOCAR Turkey Enerji A.S and SOCAR International DMCC OGG acquired a 10.32 per cent stake in Petkim on March 30, 2012, increasing SOCAR's stake in the company to 61.32 per cent. Some 38.68 per cent is in free circulation on the Istanbul Stock Exchange.

Petkim Petrokimya Holding produces plastic packages, fabric, PVC and detergents. It is the only Turkish producer making such products, a quarter of which the company exports.
The official exchange rate is 2.0812 TL/USD on Dec. 26.

Translated by NH
Edited by SM