Home / Knowledge / News / Textiles / Titan Chemicals first half profit up by 51%
Titan Chemicals first half profit up by 51%
28
Jul '09
Titan Chemicals Corp. Bhd announced group profit after tax (PAT) of RM312.8 million for the first half of 2009, up 51% when compared to the corresponding period in 2008.

For Q2 of 2009, Titan delivered a revenue of RM 1.4 billion which was 34% lower compared to corresponding quarter in 2008 due to a 33% drop in average selling price. However, its profit after tax has increased to RM 180 million on the ground of improved polymer-naphtha margin driven by tight polymer supply.

When compared to the first quarter of 2009, Titan's group profit before tax rose 17% to TM 183.5 million. Sales revenue for the second quarter was TM 1.4 billion representing a 22% increase over the preceding quarter of RM1.1 billion. This is attributed by a 27% increase in average selling price despite marginal drop in sales volume.

Titan's total debt to total assets ratio improved from 31% as at 31 March 2009 to 27% as at 30 June 2009. Titan's net debt to equity ratio was a healthy 26% as at 30 June 2009.

Demand for polymer products appears to have stabilized although global economic outlook remain uncertain for the remaining quarters of the year, Additional polymer supply is expected from new manufacturing plants in the Middle East and Chine. Barring unforeseen circumstances, positive contribution from our integrated business is expected for the reminder of 2009.

Titan Chemicals Corp. Bhd

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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