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Petronas Chemicals reports rise in quarterly profits

9:00 AM MST | February 26, 2013 | Deepti Ramesh

Petronas Chemicals (Kuala Lumpur) reports a 12% rise in profits for the quarter ended 31 December 2012, compared with the year-ago quarter, to 988 million ringgit ($319 million). Quarterly sales increased 12%, to ringgit4.38 billion, partly because of higher sales volumes, the company says. For the full-year 2012, Petronas Chemicals reports an 11% fall in profits, compared with 2011, to ringgit3.8 billion. Full-year sales increased 2%, to ringgit16.6 billion, driven by strong operational efficiency and higher volumes, the company says. 2012 was a challenging...

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