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

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search