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Turkey’s Petkim’s net profit rises 27% in Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/08/2016 (13:50)
According to a press release by the company, Turkey’s local producer Petkim’s net profit rose 27% on the year to reach TRY226.9 million ($76.8 million) in the second quarter, beating analysts’ expectations ranging between TRY137 million and TRY184 million in a survey conducted by Bloomberg.

Petkim’s sales revenue also climbed 2.6% year over year to TRY1.17 billion ($396.3 million) in the April-June period, in line with expectations.

The company’s stronger financial results were attributed to higher operational profitability and an increase in non-operating net income.
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