Home / Knowledge / News / Textiles / Keyuan Petro Q3 sales dip from production interruption
Keyuan Petro Q3 sales dip from production interruption
19
Nov '13
Keyuan Petrochemicals Inc. an independent manufacturer and supplier of various petrochemical products in China announced the Company's financial results for the quarter ended September 30th, 2013.

Sales for the three months ended September 30, 2013 were approximately $150.3 million, compared to $164.3 million for the three months ended September 30, 2012, a decrease of $14 million, or 8.5%. The decrease was mainly due to lower sales quantities as a result of the 40-day production interruption in the quarter ended June 30, 2013.

Normally it takes a short period of time for the facilities and equipment to reach to their optimum conditions after routine maintenance. The Company sold 129,066 tons of petrochemical and rubber products at an average price of $1,094 and $1,888 per metric ton, respectively, in the three months ended September 30, 2013, compared to 155,249 metric tons of petrochemical products and rubber products at an average price of $982 and $2,423 per metric ton, respectively, in the three months ended September 30, 2012.

The average sales price for petrochemical products for the three months ended September 30, 2013 increased by approximately 11% compared to the same period of 2012. Petrochemical segment revenues for three months ended September 30, 2013 account for 86% of the total revenue.

Although the average selling price during the three months ended September 30, 2013 was higher than that at the same period of 2012, the overall quantity of sold products decreased by 15%, which caused total sales for the three months ended September 30, 2013 to decline.

Sales for the nine months ended September 30, 2013 were approximately $453.8 million, compared to $532.1 million for the nine months ended September 30, 2012, a decrease of $78 million, or 14.7%.

Overall cost of sales was approximately $140.0 million for the three months ended September 30, 2013, or 93% of sales, as compared to the cost of approximately $160.5 million, or 98% of sales for the three months ended September 30, 2012.

The decrease in the cost of sales was mainly due to the lower sales quantities due to the routine inspection and maintenance of the facilities in the quarter ended June 30, 2013 and the higher average selling price of $1,151 per metric ton for the three months ended September 30, 2013, as compared to $1,059 per ton for the three months ended September 30, 2012.

Overall cost of sales was approximately $432.4 million for the nine months ended September 30, 2013, or 95% of sales, as compared to approximately $512.3 million, or 96% of sales for the nine months ended September, 30, 2012.

Click here to view full results.

Keyuan Petrochemicals

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Priyanka
Studio Priyanka Rajiv

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

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

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

Ritu Kumar
Label Ritu Kumar

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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