Lotte Chemical Titan cautioned that average selling prices for polymer products still remained at depressed levels from a year ago which resulted in continued profit margin compression, amid moderating global economic growth with the on-going market uncertainties.
KUALA LUMPUR: Lotte Chemical Titan Holdings Bhd's net profit for the third quarter ended Sept 30, 2019 fell by 57.9% to RM91.30mil from RM216.88mil a year ago due to higher tax expenses following under provision in prioryear and no further reinvestment allowance.
It announced on Thursday its payment of income tax surged to RM42.30mil in 3Q FY19 from just RM110,000 a year ago. Its pre-tax profit was RM133.65mil compared with RM217.20mil a year ago.
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