Petkim Holding's profit sharply soars

Baku. 5 May. REPORT.AZ/ Financial performance of Petkim Holding, mainly owned by the State Oil Company of Azerbaijan Republic (SOCAR), in the first quarter 2017 was announced.

Report informs citing the Turkey Public Disclosure Platform (Kamuyu Aydınlatma Platformu - KAP), net profit of the company to the 1st quarter of this year made 365,9 mln TRY, which is more by 2.5-fold than the same period last year.

According to the report not independently audited, assets of Petkim Holding together with subsidiary agencies to March 31, 2017 amounted to 7,292 bln TRY. This figure was equal to 6,269 bln TRY on December 31, 2016.

Notably, profit indicator in the first quarter was higher than the market forecasts. Petkim profit forecasted at 225 mln TRY to the first quarter of this year.

Consolidated financial performance for the period of January-March 2017 was approved by Petkim Holding Management Board on May 4.