'Ziraat Yatırım' increases value of Petkim by 10%

Baku. 15 March. REPORT.AZ/ 'Ziraat Yatırım' investment company made a report on 'Petkim (PetroKimya) Holding A.Ş.', which is the biggest asset of the State Oil Company of Azerbaijan Republic (SOCAR) in Turkey.

Report informs citing Turkish media, 'Ziraat Yatırım' has increased market value of the company's shares from 3,49 Turkish Lires (TRY) to 3,85as well as cost of 'Petkim' by 10,2% from about 5 237 Lires to 5 770 million Lires due to market changes.

Report declares, sales revenues of 'Petkim' increased by 40% in IV quarter of last year in comparison with the last quarter of 2014 and made 1 157 million Lires.

In addition, however, due to lower increase in selling expenses the company faced with damage of 23 million Lires in IV quarter in 2014, it has gained pre-tax income of 155 million Lires in the last quarter of the past year.

It was noted that growth of difference between ethylene and naphtha in the first year of 2016 as well as oil prices decline show strong profitability by 'Petkim' in 2016.

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