Petronas Chemicals’ FY17 pre-tax profit rises to RM5.24 bln
February 21, 2018, Wednesday
KUALA LUMPUR: Petronas Chemicals Group Bhd’s pre-tax profit for the financial year ended Dec 31, 2017 (FY17) increased to RM5.24 billion from RM4.11 billion in 2016.
Revenue rose to RM14.41 billion from RM13.86 billion previously, the group said in a filing to Bursa Malaysia yesterday.
It said 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 (EBITDA) 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, in line with higher revenue,” it said.
Moving forward, Petronas Chemicals said the results of the group’s operations were expected to be primarily influenced by
— Bernama
February 21, 2018, Wednesday
KUALA LUMPUR: Petronas Chemicals Group Bhd’s pre-tax profit for the financial year ended Dec 31, 2017 (FY17) increased to RM5.24 billion from RM4.11 billion in 2016.
Revenue rose to RM14.41 billion from RM13.86 billion previously, the group said in a filing to Bursa Malaysia yesterday.
It said 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 (EBITDA) 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, in line with higher revenue,” it said.
Moving forward, 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, particularly for the Olefins and Derivatives Segment.
— Bernama
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