KUALA LUMPUR — Feb. 20, 2018: The pre-tax profit for last year for the Petronas Chemicals Group rose to RM5.24 billion from RM4.11 billion in 2016 while revenue rose to RM14.41 billion from RM13.86 billion.
The group told Bursa Malaysia today that the higher revenue was mainly driven by improved product prices and higher sales volumes, as well as benefitting from the strong US dollar.
Earnings before interest, taxes, depreciation and amortisation also increased by RM1.3 billion or 25 per cent to RM6.6 billion and profit after tax increased by RM1.2 billion or 37 per cent to RM4.4 billion.
Petronas Chemicals said the results of the group’s operations were expected to be primarily influenced by global economic conditions, utilisation rate of production facilities and petrochemical products prices which have a high correlation to crude oil prices. — Bernama