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Titan Chemicals sales revenue up 34% for Q1 2007

08
May '07
Malaysia first and largest integrated producer of petrochemicals and polymers, Titan Chemicals recorded a 34% growth in group sales revenue to RM1.4 billion for the first quarter ending 31 March 2007 as compared to RM 1.0 billion achieved in the corresponding quarter 2006.

This growth was due to an increase in average selling price and sales volume by 10% and 22% respectively.

According to Titan Chemicals' managing director, Mr. Thomas P. Grehl, "Underlying Profit After Tax (PAT) for the quarter registered a 321% growth from RM 37.2 million in 2006 to RM 156.4 million in 2007."

"The underlying PAT in the first quarter of 2006 excluded the excess of the group's interest in the net fair value of the acquired subsidiary, Chemical Brother's Limited identifiable assets, liabilities and contingent liabilities over the cost of acquisition amounting to RM340.9 million."

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Titan Chemicals Corp Bhd


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