PetChem earnings drop on low prices, volumes


  • Business
  • Wednesday, 28 Nov 2012

PETALING JAYA: Petronas Chemicals Group Bhd’s (PetChem) third-quarter net profit for the period ended 30 Sept declined 38.3% to RM742mil, with revenue dropping to RM3.94bil from RM4.64bil.

The company said the drop in revenue was due to both lower prices and volumes, adding that operationally, its plant’s performance had improved.

“However, production was constrained by feedstock limitation for the olefins and derivatives segment, and higher level of plant maintenance activities for the fertilisers and methanol segment,” it told Bursa Malaysia. Earnings before interest, taxes, depreciation and amortisation declined by RM649mil or 34% to RM1.2bil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Business , petchem

   

Next In Business News

Tashin buys CSC Steel's property in Penang
Careplus seeks transfer to Bursa Malaysia main market
Takeover offer for Cycle & Carriage extended to May 12
Greatech Q1 net profit jumps 152% as EV business lifts profit margin
Redtone Digital appoints Jalil Rasheed as deputy chairman
FBM KLCI closes marginally higher
Bitcoin falls 7% as cryptos stumble over Biden tax plans
Taiwan's chip industry set for years of growth: minister
AirAsia partners RinggitPlus to set up one-stop financial marketplace
CPI up 1.7% to 122.9 in March 2021

Stories You'll Enjoy


Vouchers