Turkey's Petkim net profit soars

ANKARA - Turkish petrochemicals maker Petkim has said that its consolidated net profit has increased ten-fold to 55 million Turkish lira ($25.5 million) in the first half of 2014.

In a statement on Tuesday, Petkim said its profit rose from 5 million lira in the same period last year.

Consolidated revenue grew by an annual 27 percent to 2.44 billion lira in the first six months of 2014.

Petkim will increase annual production capacity for ethylene and purified terephthalic acid to 3.6 million tonnes from 3.2 million tonnes, the statement said.

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