Turkey's petrochemical giant Petkim's net profit in the second quarter of 2015 rose to TL 188 million ($68 million) from the first quarter's profit of TL 44.4 million ($16.7 million), the company said in a written statement on Wednesday.
According to the statement, the company made a gross profit of TL 290 million during the same period, while the turnover was TL 2.83 billion. Additionally, the company's net profit for the first half of 2015 was TL 232 million.
"Our improvements and productivity gains in the past period reflects our profitability in 2015, we were ready for this process through improved operational efficiency at the beginning of 2015," Sadettin Korkut, the general director of the company said in the statement.
He cited that experienced human resources, management skills, competitiveness and energy management affected the increased company profit.
Petkim is a leading Turkish petrochemical company founded in 1965. The main plant complex is located in Izmit about an hour away from Istanbul. In 1985, a second complex was constructed in the western city of Izmir.
The company produces petrochemicals for use in the manufacture of plastics, textiles and other consumer and industrial products.
By Gokhan Yildiz
Anadolu Agency
gokhan.yildiz@aa.com.tr