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"Petkim Holding" increased half-year profit by 63%

Quarterly profit of holding  increased by 22%

Baku. 12 August. REPORT.AZ/ In the first half of this year, Petkim Petrochemical Holding main shares of which belong to the State Oil Company of Azerbaijan Republic (SOCAR) gained profit in the amount of 377 mln Turkish lira (TRY) which is 62.5% more than in the first half of 2016.

Report informs citing the Turkish media, this figure was 232 mln TRY in the corresponding period of last year.

In the second quarter of this year holding made a profit in the amount of 228 mln TRY which is more by 21.9% compared with the same period last year.

At the auction, which was held on 30 May 2008,SOCAR/Turcas Energy has purchased 51% of "Petkim Holding" shares for 2.04 bln USD. In March 30, 2012, "SOCAR Turkey Energy Inc." and "SOCAR International DMCC OGG" privatized 10.32% of shares of Turkish "Petkim". Further, 5% of shares were bought in the stock exchange. The added (15%) shares traded depending on market conditions. SOCAR management said the company's shares in "Petkim Holding" will never be less than 51%.

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