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Petkim net rises 10-fold on operational efficiency
18
Aug '14
By focusing on operational efficiency, Turkish petrochemical major - Petkim Petrochemical Holding was able to hike its net profit 10-fold in the first six months of 2013, from a year earlier.

In the first-half of 2014, net profit shot up to 55 million Turkish Liras from just 5 million Liras in the comparable period of 2013 and was also up from 49 million Liras, it reported in the full year of 2013.

Petkin said by focusing on operation efficiency and as a result of market-oriented dynamic policies, it was able to increase its net profits and also improve other financial parameters.

The net profit of Petkim Petrochemical Holding amounted to 55 million Turkish liras in the first half of 2014.

In the period under review, Petkim’s revenue reached 2.44 billion Liras and was also able to raise its production capacity by 6% year-on-year to one million tons.

Petkim said it also increased the utilization rate increased by nine percentage points to reach 90 percent in the reporting period.

Since, demand for its products has risen, Petkim now plans to hike production of ethylene and pure terephthalic acid (PTA) from 3.2 million to 3.6 million tons per annum.

Fibre2fashion News Desk - India

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