Petkim Holding 's net profit rose sharply

Baku. 5 September. REPORT.AZ/ Turkish "Petkim Holding" had net profit of 44.4 million liras (about 14.9 mln USD) in the first quarter of 2015, 188 million in the second quarter (about 63 mln USD), Report informs referring to the company.

According to the report, the company had a net profit of 232.4 million liras in the first half of the year (77.9 mln USD), which is 4 times more than the same period of last year.

Company with total turnover of 2,086 bln liras (about 699.3 mln USD) in the first half of the year had net income of 290 million liras (about 97.2 mln USD).The share of net profit in the first half of last year was 2.3%, while the figure in the same period of 2015 increased  4 times and reached 11.2%.

Director General of "Petkim" Sadettin Korkut said that commissioning of ethylene plant, completed in 2014, had a positive impact on productivity: "Development and efficiency measures taken earlier  have a significant impact on the profit".

State Oil Company of Azerbaijan Republic(SOCAR) is a major shareholder of "Petkim Holding".