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

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Larry L Kinn
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

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

Karan Arora
Karan Arora

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

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search