Petronas Chemicals Reports Lower Profits; Forecasts 'Satisfactory' Results for 2012

Petronas Chemicals Group (PCG; Kuala Lumpur) reported a slight drop in first quarter profit on flat sales.  Profit after tax reached MR1.12 billion ($356.7 million) compared with MR1.2 billion in the year-earlier period. Sales were MR4.39 billion in the first quarter of this year compared with MR4.35 billion in the first three months of 2011.   PCG recorded improved operational performance in the first quarter with higher production and plant utilization achieved by both its segments: olefins and derivatives and fertilizers and methanol. The...

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