The net profit of the Turkish petrochemical holding Petkim in the first quarter of 2017 compared with the same period in 2016 increased by 2.4 times – up to 359 million Turkish lira (TL), according to the website of the holding.
SOCAR Turkey Energy (the Turkish “daughter” of SOCAR) owns a controlling stake in the petrochemical complex of Turkey Petkim Petrokimya Holding.
The information indicates that the company’s gross profit for January-March 2017 was 468 million TL (2.2 times growth), and the sales volume – 1 billion 766 million TL (an increase of 59.2%).
Assets of Petkim in the first quarter of 2017 amounted to 7 billion 292 million TL (an increase of 16.3%).
The utilization ratio of Petkim’s production capacities in the first quarter reached 94.7%.
Petkim shares are quoted on the Istanbul Stock Exchange.