Iran’s petrochemical companies post 30 to 400% returns

Iran Materials 19 June 2012 12:16 (UTC +04:00)

Azerbaijan, Baku, June 18/Trend M. Moezzi/

Petrochemical companies listed on Iran's stock exchange posted profits of at least 30 per cent and some had returns that were as high as 400 per cent last year (Iran's solar year ended on March 19).

Changes in oil prices, higher production capacity, more exports and the companies' performance are among the most important reasons for their profitability, Morteza Azizi, the Parsian Oil & Gas Development Company's managing director told Shana news.

"The petrochemical companies' performance in the first three months of this year is better than last year," said Mr. Azizi who added that six-month performance reports will give a clearer picture of the companies' future.

In the first three months of this year, the industry has manufactured more than seven million tons of products. That's nine per cent higher than the same period last year.

Overall, those petrochemical companies that are listed on the Tehran Stock Exchange have had successful stock sales and are in good shape.