Home / Knowledge / News / Textiles / Methanol producer Methanex lowers Q2 net loss steeply
Methanol producer Methanex lowers Q2 net loss steeply
01
Aug '16
Courtesy: Methanex
Courtesy: Methanex
For the second quarter ended June 30, 2016, net loss at the world's largest producer and supplier of methanol, Methanex declined steeply to $3 million compared to a net loss of $23 million in the first quarter of 2016.

Adjusted net loss at the Canadian company rose higher at $31 million or $0.34 adjusted net loss per share vis-à-vis adjusted net loss of $24 million or $0.27 adjusted net loss per common share in the prior quarter.

Adjusted EBITDA for the second quarter of 2016 was $38 million as against adjusted EBITDA of $36 million in the earlier quarter.

Methanex was able to increase production by 8 per cent in the reporting quarter versus the first quarter to 1.7 million tons, a new company record.

Its total sales volume too increased by 11 per cent to 2.36 million tons in the quarter, also a company record."

CEO John Floren said, "Our second quarter earnings reflect the impact of lower average realised methanol pricing offset by higher sales of produced product compared to the first quarter.”

"Global demand growth rebounded in the second quarter, and remains healthy at an estimated year-over-year growth rate of 8 per cent,” he added. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Cambodia’s economic growth to remain strong in 2017 & 2018

Apparel/Garments | On 14th Dec 2017

Cambodia’s economic growth to remain strong in 2017 & 2018

Cambodia’s economy is expected to grow at 6.9 per cent and 6.8 per...

2 garment factories to be set up in Jordan’s Arjan, Souf

Apparel/Garments | On 14th Dec 2017

2 garment factories to be set up in Jordan’s Arjan, Souf

Jordanian Prime Minister Hani Mulki recently laid the foundation...

BRC welcomes ‘breakthrough’ on Brexit talks

Apparel/Garments | On 14th Dec 2017

BRC welcomes ‘breakthrough’ on Brexit talks

The British Retail Consortium (BRC) has welcomed the recent...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search