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Petkim announces financial results for Jan-Sep period of 2014

by ChemOrbis Editorial Team -
  • 07/11/2014 (11:19)
Turkey’s Petkim Petrokimya Holding AS has announced its financial results for the first nine months of 2014 in a publication dated November 7 on Turkey’s Public Disclosure Platform (KAP).

The company reported a net profit of 2.5 million Turkish liras for the January-September period of this year, a sharp decrease when compared to the 48.5 million Turkish Lira profit reported by the company for the same period of 2013. The company blamed ongoing decreases in crude oil and petrochemicals prices for their weaker financial results.

In the first nine months of this year, the company’s production decreased 15% to reach 1.8 million tons while its capacity utilization rate also declined to 74.2% from the utilization rate of 83.3% posted in the same period of 2013. However, Petkim’s net sales in the January- September period increased 10% to 3.3 billion Turkish Liras when compared to the same period of the previous year.
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