Wednesday, 23 November 2011

Petronas Chemicals posts RM1.7bn Q2 profit

Petronas Chemicals Group Bhd posted a pre-tax profit of RM1.7 billion on revenue of RM4.638 billion for the quarter ended Sept 30, 2011.

For the six months ended Sept 30, it posted a pre-tax profit of RM2.758 billion on revenue of RM7.983 billion.

It declared an interim dividend of eight sen per share, payable on Dec 22. Petronas Chemicals said moving forward, the results of its operations are expected to be primarily influenced by fluctuations in international petrochemical products prices, global economic conditions and utilisation rate of its production facilities.

The start of the third quarter saw power supply interruption to Ethylene Malaysia Sdn Bhd, which limited its ethylene production for approximately two weeks, it said.

Consistent with previous periods, the Olefins and Derivatives segment will continue to be the key contributor to the Group's results, it added.

Subject to sufficient availability of methane gas, it expects satisfactory results of its operations for the financial period ending Dec 31, 2011.