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

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

L-R: Jonathan Akeroyd, Donatella Versace, John D Idol. Courtesy: Rahi Rezvani

Fashion | On 25th Sep 2018

Michael Kors to acquire Versace; to be renamed Capri

Michael Kors Holdings Limited, a global fashion luxury group, has...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Harmeet Singh,

Harmeet Singh

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

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

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

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin, Chapurin

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

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search