Turkish Petkim petrochemical complex profit almost triples
Baku, Azerbaijan, March 7
By Emil Ismayilov - Trend:
The net profit of the Turkish Petkim petrochemical holding in which the State Oil Company of Azerbaijan (SOCAR) has a 61.32 percent share, amounted to 49 million liras in 2013 compared to 17 million liras in 2012, according to a message posted on Petkim's official website on March 7.
"Petkim's gross profit amounted to 270 million liras, while its net profit was equal to 49 million liras in 2013," according to the holding's website.
The total volume of Petkim's sales amounted to nearly 4.16 billion liras in 2013 compared to approximately 4.35 billion liras in 2012, Petkim's website stated.
On March 30, 2012, SOCAR Turkey Enerji A.Ş and SOCAR International DMCC OGG acquired a 10.32 percent stake in the Petkim petrochemical complex, increasing their stakes to 61.32 percent. Some 38.67 percent of the shares are on free circulation on the Istanbul Stock Exchange.
Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC and detergents, being the only Turkish producer of such products. The holding exports a quarter of its products.
The official exchange rate on March 7 is 2.1999 TL/USD.
Translated by L.Z.
Edited by S.M.