Ghadir Petrochemical Company has raised its monthly sales in the Iran Mercantile Exchange (IME) to 15 Million USD in December 2019 which was an unprecedented record for the firm.
The firm’s average monthly sales were around 6.5 Million USD before December which is considered insignificant compared to the latest measures.
“During December, our consumers or downstream industries, had more demands, so that we faced an increase in sales in the IME without even price changes or any competitions.” Kourosh Moazami the deputy of the financial affairs of Ghadir Company said.
He also said: considering the elimination of the ceiling of competition, this competition has been led to an increase in our sales, although the increase of USD rates was also effective.
“But however, the main reason was the demands for our products which we hope to be continued.” He added. Moazami also said: It should be also noted that we didn’t have a global price raise and it was just a domestic competition which led us to have more sales.
He continued: Ghadir Petrochemical Company would offer its product in the IME according to the regulations and consumers would be able to offer higher prices rather than the determined price. Previously the competition was low but at the moment our products are being bought over 18 percent higher than the base price.
He also said: this increase in sales would be effective on profit margin and would influence our EPS in the future.