Turkish Petkim reveals income rate
By Nigar Abbasova
Income of Turkish Petkim petrochemical complex amounted to approximately $128.049 million in the first half of 2016 compared to $78.81 in the same period of 2015, the Turkish Public Disclosure Platform (PDP) reported.
Gross profit of the company amounted to $161.436 million as against $98.404 million in the first half of 2015, while an income from the principal activity totaled $141.99 million.
Assets of the company in June 2016 stood at $1.69 billion compared to $1.85 in 2015.
Petkim’s current liabilities in the reported period amounted to $0.41 billion facing a decrease of 23.9 percent within a year, while the volume of fixed liabilities stood at $ 0.36 billion facing an increase of 0.9 percent.
Meanwhile, the company will hold an extraordinary meeting of the Board of Directors on September 6. Top issues to be discussed during the meeting include recent staff changes in the company.
Following the failed coup attempt in Turkey, the government of the country has started inspections in a number of companies operating in the country, including Petkim.
Turkey’s Energy Minister Berat Albayrak recently said that inspections are not related to the activities of Azerbaijan’s SOCAR, which is a shareholder in the company.
Petkim is engaged in production of plastic packages, fabrics,
detergents, and is considered to be the sole Turkish manufacturer
of such products, a quarter of which is exported.
The complex includes 14 plants which produce 20 various types of
products. The annual production capacity of Petkim is 3.6 million
tons.
The shareholders of the company are SOCAR Turkey Petrokimya A.S. - 51 percent, SOCAR Turkey Enerji A.S. - 5.3216 percent, while 43.6784 percent of shares are in free float on the stock exchange.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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