Petkim’s profit in Q2 2017 soars by 33%

Baku. 11 August. REPORT.AZ/ Petkim Holding’s profit in the second quarter (Q2) of 2017 soared by 33% in annual comparison and made 302,5 mln. TRY ($ 90 mln). 

Report informs citing the Reuters, the company said in a statement to the Public Information Platform (KAP). The statement reads that the company’s profit was 226,9 mln. TRY ($ 78 mln) in corresponding period of 2016.

Moreover, according to statement, the company’s revenues in the Q2 2017 up by 56% and reached 1,84 billion TRY ($ 521 mln).

Notably, in 2008, SOCAR purchased “Petkim” (51%) for $ 2,040 billion and launched activity in Turkey. Currently, SOCAR owns 51% of Petkim Holding shares. The rest of Petkim’s stakes is in circulation at Istanbul Stock Exchange. “Petkim” is the first and only petroleumchemical complex in Turkey and biggest exporter of the Aegean region.