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

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Rikesh Mistry

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

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Lynda Kelly
Suominen Corporation

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

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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