“The looming Covid-19 has affected global economy, resulting in poor business sentiment and weakened demand, especially during the beginning of the pandemic outbreak in early 2020, ” said the group.
KUALA LUMPUR: Lotte Chemical Titan Holding Bhd
recorded a 19.49% decline in net profit to RM151.16mil in the fourth quarter ended Dec 31,2020, as compared to RM187.76mil in the same quarter last year.
The group said in a filing with Bursa Malaysia that the weaker performance was owing to a decrease in average product selling price and sales in volume in the olefins and derivative products segment during the quarter.
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