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Turkey’s Petkim posts stronger net profit in Q1

by ChemOrbis Editorial Team -
  • 30/04/2015 (17:50)
Turkey’s Petkim posted stronger financial results in the first quarter of this year, according to media reports. The company’s net profit increased around 20% on the year to TRY44.4 million ($16.6 million) from TRY37 million ($13.9 million) in the same period of last year. Petkim’s turnover was reported at TRY937 million ($352.5 million) in the January-March period.

Sadettin Korkut, General Manager at Petkim, reportedly attributed the company’s stronger results in the first quarter to higher production capacity, which increased 13% with investments worth around $200 million in 2014, as well as lower energy costs and increased operating rates.

Meanwhile, Korkut also commented that a reasonable oil price for Turkey should be around $75-80/barrel, adding that the company eyes $125 million worth of investment in 2015.
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