PetChem earnings soar on higher sales volume

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PETALING JAYA: Petronas Chemicals Group Bhd’s (PetChem) net profit surged 40.2% to RM987mil in the final quarter of the financial year (FY) ended Dec 31, 2016, from RM704mil in the corresponding quarter of 2015.

In a filing with Bursa Malaysia, the integrated petrochemicals company attributed its earnings growth to higher sales volume, lower unit cost, favourable spreads and stronger US dollar.