Petkim, Turkey's petrochemical raw material manufacturer, announced on Saturday that company increased its net profit by 15 percent to 732 million Turkish liras, one of the best financial outcomes of the company’s history.
Company's size of assets increased by 15 percent to 6.3 billion Turkish liras, within a 12 months period, according to Turkey's first and only petrochemical raw material manufacturer's announcement.
Petkim has made a turnover of 4.53 billion Turkish liras and the gross profit of the company has reached 958 million Turkish liras with a profit margin of 16 percent in 2016.
"Capacity utilization ratio of the company within the aforementioned period has arisen to the level of 88 percent." said in press release.
US$1 equals 3.72 Turkish liras, according to Turkey's Central Bank data.
By Muhsin Baris Tiryakioglu