PETKIM INCREASES NET PROFIT BY 14%

SOCAR Turkey’s subsidiary, Petkim increased its net profit by 14% to TRY 1.1bn in 2020, according to Anar Mammadov, General Manager of Petkim. The company headed towards the domestic markets in 2020. Petkim’s exports decreased by 30% while the company increased its sales volume and profitability in 2020, compared to the previous year. The company raised its operational profit by 21% to TRY 1.9bn, Mammadov said. Petkim increased its total sales to TRY 12.1bn last year. The company’s share of domestic
sales in its total turnover increased from 60% in 2019 to 67% in 2020.