Turkey’s Petkim’s Q3 net profit misses estimates

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.