Petronas Chemicals Q3 net profit rises to rm1.3b
Published on: Saturday, November 17, 2018
Kuala Lumpur: Petronas Chemicals Group Bhd's net profit for the third quarter (Q3) ended Sept 30, 2018, rose to RM1.3 billion from RM913.0 million in the same quarter last year.Revenue increased by RM817 million or 20 per cent to RM4.8 billion from RM4.0 billion previously, on the back of higher product prices, partially offset by lower sales volume and the strengthening of the ringgit against the US dollar, it said in a filing with Bursa Malaysia on Friday.On prospects, the group said its operation results were expected to be primarily influenced by global economic conditions, foreign exchange rate movements, utilisation rate of our production facilities and petrochemical products prices which have a high correlation to crude oil prices, particularly for the Olefins and Derivatives segment.
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