Baku, Azerbaijan, May 10
By Leman Zeynalova - Trend:
The net profit of Petkim petrochemical complex in Turkey, owned by Azerbaijan's State Oil Company SOCAR has increased by 14 percent in the first quarter of 2019, as compared to the same period in 2018, Trend reports citing SOCAR Turkey Energy, Turkish subsidiary of SOCAR.
Reportedly, Petkim’s revenues stood at 2.83 billion Turkish liras in the first quarter of 2019.
“The net sales volume of Petkim has increased by 51 percent in the first quarter of this year, as compared to the same period last year, while the net profit has increased by 14 percent during the same period, standing at 144 million liras,” said SOCAR Turkey Energy.
Petkim’s director general Anar Mammadov said that the first quarter of 2019 was successful.
“We have started to get the fruits of our work in integration with the STAR refinery, which will soon reach its full capacity,” he said.
Petkim produces plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of such products, the company exports a quarter of its production. The complex includes 14 factories producing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.
Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, 49 percent of the shares are in free float on the stock exchange.
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