Titan Chemicals Reports Rise in Second-Quarter Profits

Titan Chemicals (Kuala Lumpur) has recorded a 51% rise in second-quarter net profits, to RM180 million ($51 million), compared with the year-ago period, on sales down 34%, to RM1.4 billion. The fall in sales was due to a 33% drop in average selling price, while the rise in net profits was due to the improved polymer-naphtha margins driven by tight polymer supply, the company says. The second-quarter financial performance was better than the first quarter of 2009, the company says. The RM1.4-billion sales in the second quarter represents a 22% increase from the...

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