Home / Knowledge / News / Textiles / Petronas Chemicals Q1 group revenue grows 14%
Petronas Chemicals Q1 group revenue grows 14%
09
May '14
PETRONAS Chemicals Group Berhad (PCG) announces its financial results for the first quarter ended 31 March 2014.
 
For the three months ended March 2014, the Group revenue increased by 14% or RM457 million to RM3.8 billion, compared to the preceding quarter. This is achieved on the back of higher sales volume in line with significant improvement in operational performance with plant utilisation climbing to 80% from 66% in the preceding quarter. 
 
Consequently, Group Profit After Tax jumped by 68% or RM341 million to RM839 million and EBITDA surged by 75% or RM535 million to RM1.2 billion. EBTIDA margin remained strong at 33%.
 
The Company has undertaken heavy statutory turnaround and maintenance activities at its various plants which started in Quarter 3, 2013 and is expected to be substantially completed in Quarter 2, 2014.
 
“With that, we would have completed our cycle of statutory turnaround activities for the main facilities in both business segments. We expect to achieve improved plant utilisation, which will translate into better financial performance from this year onwards,“ said Sazali Hamzah, President/ Chief Executive Officer of PCG.
 
About PETRONAS Chemicals Group
PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in South East Asia. It operates a number of world class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of over 10 million mtpa, it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. 
 

PETRONAS Chemicals Group Berhad


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Global growth to pick up in 2017 and 2018: IMF

The pickup in global growth anticipated in the April World Economic...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

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

Eamonn Tighe
Nature Works LLC

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao
Nayaab

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

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

July 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

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

Yes No

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

Yes No

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


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



X