Refining/Petro Chemistry
Turkey's Petkim sees profit rise of 141% in 1Q17
- Petkim's net profit in first quarter of 2017 increases to 359 million Turkish liras, company announces

Petkim, Turkey's petrochemical raw material manufacturer, experienced one of the best quarterly financial results of its history with a 141 percent rise in its net profit to 359 million Turkish liras in the first quarter of 2017, Petkim announced late Friday.

The size of the company's assets increased by 16 percent to 7.29 billion liras within a three month period, according to the announcement of the country's first and only petrochemical raw material manufacturer.

Petkim made net sales of 1.7 billion liras, compared to 1.1 billion liras during the same quarter last year. The utilization capacity rate of the company was 94.7 percent.

US$1 equals 3.56 Turkish liras, according to Turkey's Central Bank data.

By Gulsen Cagatay

Anadolu Agency

06 May,2017