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Petronas Chemicals reports higher profits on lower sales, citing lower prices and plant maintenance

11:15 AM MDT | August 26, 2013 | Natasha Alperowicz

Petronas Chemicals (Kuala Lumpur) reports an increase in second-quarter profits on lower sales, citing lower prices and  higher level of plant maintenance. Profit after tax in the quarter ended 30 June rose 12%, to 958 million ringgit ($407.8 million). Ebitda was also 12% higher, at ringgit1.55 billion, and Ebitda margin advanced from 36% in the second quarter of 2012 to 40% in the corresponding period of this year. Operating profit was 16% higher, at ringgit1.37 billion. Revenue was down 1%, at ringgit3.87 billion.   Petronas Chemicals...

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