Bloomberg News

Petkim Falls in Istanbul After Reporting First Quarter Loss

May 02, 2012

Petkim Petrokimya Holding AS (PETKM), Turkey’s biggest chemicals maker, fell after reporting a first-quarter loss of 7.9 million liras ($4.5 million), missing estimates.

The shares retreated 1.4 percent to 2.06 liras at the close in Istanbul, slipping a second day to the lowest since Jan. 31.

The company was expected to earn 10.3 million liras, according to the average of seven analyst estimates compiled by Bloomberg. Petkim reported net income of 77.2 million liras in the first quarter last year.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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