Petronas Chemicals Reports Higher Profits and Revenues in Second Quarter

Petronas Chemicals reported an 8% increase in profit to ringgit 900 million ($288.9 million) in the second quarter ended June 2012. Revenues were up 16% year-on-year to ringgit 3.9 billion on the back of improved operational performance, despite average prices being marginally lower, the company says. The group’s profit for the quarter rose in line with higher Ebitda at ringgit 1.4 billion.   The group’s revenue for the six-month period also rose by 8% to ringgit 8.3 billion against the corresponding period with better operational performance and...

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