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Petronas Chemicals reports fall in profits and sales

4:19 AM MDT | May 8, 2014 | Deepti Ramesh

Petronas Chemicals (Kuala Lumpur) reports a 32.1% fall in profits for the first quarter of 2014, compared with the first quarter of 2013, to 839 million ringgit ($260 million) largely due to lower sales volume, the company says. First-quarter sales decreased 14.5%, to ringgit3.80 billion, mainly due to lower volumes and softening product prices, the company says. Petronas Chemical's olefins and derivatives business reports a 9.6% fall in first-quarter sales, to ringgit2.8 billion mainly as a result of softer prices particularly for glycols, derivatives and...

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