Turkey’s Petkim’s Q3 net profit misses estimates
by ChemOrbis Editorial Team - content@chemorbis.com
Turkey’s Petkim Petrokimya Holding AS has announced its financial results for the third quarter of this year in a publication dated November 4 on Turkey’s Public Disclosure Platform (KAP).
The company reported a net profit of 136.7 million TL ($43.4 million) for the July-September period compared with 275.5 million TL in the same period of last year The Q3 net profit fell below analysts’ average forecasts, which called for 160.8 million TL net profit in a survey by Bloomberg.
Petkim’s net profit in the January-September period reached 510.1 million TL ($161.9 million) from 503.8 million TL in the same period of 2015 while the company’s Q3 revenue was reported at 968.8 million TL compared to 1.29 billion TL in the July-September period of the previous year.
The company reported a net profit of 136.7 million TL ($43.4 million) for the July-September period compared with 275.5 million TL in the same period of last year The Q3 net profit fell below analysts’ average forecasts, which called for 160.8 million TL net profit in a survey by Bloomberg.
Petkim’s net profit in the January-September period reached 510.1 million TL ($161.9 million) from 503.8 million TL in the same period of 2015 while the company’s Q3 revenue was reported at 968.8 million TL compared to 1.29 billion TL in the July-September period of the previous year.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets
