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Petkim reports twelve-fold increase in net income

6:35 AM MDT | May 1, 2014 | Francinia Protti-Alvarez

Petkim (Alia─ča, Turkey) has reported net income of 37 million Turkish Lira ($17.5 million) for the first quarter of 2014, up almost twelve-fold on a year-on-year (YOY) basis. Ebitda was TL81 million and revenue amounted to TL1.2 billion in the first quarter, the company says. Petkim did not disclose revenue figures per business segment. "First-quarter demand for Petkim's products were on the rise while the overall domestic petrochemical market was just mediocre. Rather than increasing our revenue and market share we have concentrated on generating profit...

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