Home / Knowledge / News / Textiles / Our operating profit grows at PETRONAS Chemicals
Our operating profit grows at PETRONAS Chemicals
31
May '11
PETRONAS Chemicals Group Berhad (PCG) is pleased to announce its results for the recently concluded financial year.

The Group recorded a 20% increase in revenue year-on-year at RM14.6 billion, supported by higher prices and volume addition from our acquisitions undertaken in 2009 and 2010.

Our operating profit grew by RM405 million or 12% to RM3.7 billion from the previous year.

The Group's results were further supported by the strong performance from BASF PETRONAS Chemicals, which primarily contributed towards higher share of profits from associate and jointly controlled entities by RM533 million.

Overall, profit for the period increased by RM868 million or 33% to RM3.5 billion.

The Group's EBITDA was at RM4.7 billion, an increase of RM875 million or 23% year-on-year.

Earnings per share were 40 sen compared to 30 sen per share in the corresponding period.
The Board of Directors proposed a tax exempt final dividend of 19 sen per share subject to the approval of shareholders at the next Annual General Meeting.

Compared to the third quarter ended December 2010, the Group posted a 12% growth or RM455 million on the back of strong realised prices and higher sales volume, particularly from our fertiliser and methanol business segment with the resumption of PETRONAS Methanol Labuan Plant 1 on 26 December 2010. This partly mitigated the lower production volume from olefins and derivatives business segment due to maintenance activities in the current quarter.

With the strong momentum in petrochemical industry, the Group posted its highest quarterly performance for the financial year ended March 2011, whereby operating profit grew by RM121 million or 12% to RM1.2 billion in the current quarter.

In the same period under comparison, profit for the period increased by RM161 million to RM1.2 billion whilst EBITDA climbed 17% or RM214 million to RM1.5 billion.

“For the recently ended quarter, the petrochemical industry benefited considerably from broadly higher product prices and spreads. With the completion of the recent maintenance activities at our key facilities, we are well positioned to meet the growing demands in Asia,” said Dr Abd Hapiz Abdullah, President/Chief Executive Officer of PCG.

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated petrochemicals 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.

PETRONAS Chemicals Group Berhad (PCG)


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Varinder Singh Jawanda
Trendy Bharat

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

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Vikas Banduke

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Eamonn Tighe
Nature Works LLC

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

Marcel Alberts
Eurofibers

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

Silke Brand-Kirsch
Schlegel und Partner

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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