Managing director and CEO Datuk Sazali Hamzah (pic) said 2020 was an exceptionally challenging year. The impact of Opec fallout and Covid-19 pandemic has resulted in supply chain disruption and dampened demand which caused a deep economic recession.
KUALA LUMPUR: Petronas Chemicals Bhd posted a strong set of earnings in the fourth quarter ended Dec 31,2020 with net profit of RM466mil, underpinned by a recovery in petrochemical product prices, and it expects an improvement this year.
It announced yesterday that its net profit rose by 37% from RM340mil a year ago. Its revenue dipped by 9.4% to RM3.84bil from RM4.23bil a year ago. Earnings per share were six sen compared with four sen a year ago.
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