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Titan Chemicals Reports Fall in Profits

2:10 AM MDT | April 28, 2010 | Deepti Ramesh

Titan Chemicals (Kuala Lumpur) recorded a 22% fall in first-quarter net profits, to RM104 million ($33 million), compared with the year-ago period. Sales for the quarter increased by 48%, to RM1.67 billion, mainly due to an increase in the average selling price of polyolefin products by 48%, and olefin and derivative products by 129%. Profits for the quarter decreased however, due to the rise in the price of naphtha, which resulted in lower profit margins, Titan says. “In view of the improved economic climate, we expect demand for polyolefin products in...

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