Borouge’s net profit falls by 7% in Q3 2023
On the other hand, the company recorded a 22% increase in its Q3 net profit and a 6% gain in its revenue quarter-on-quarter.
During the January-September period, the company reported $713 million net profit, indicating a decrease of 39% year-on-year. The company’s revenue stood at $4.29 billion for this period.
Borouge announced $1.14 billion operating profits for the first nine months of 2023. The amount indicated a 32% decrease from a year ago.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Are PP decreases slowing down in Türkiye?
- Europe’s polymer markets open Oct with drops; PVC defies the odds
- China’s PP, PE markets enter post-holiday period on firm note
- Import PP copolymer prices hit year-to-date lows in Türkiye
- Demand doldrums weaken Vietnam’s PP market, import prices hit 9-month low
- NEA olefins fall further as China’s Golden Week halts demand; SEA finds stability
- India’s PP, PE markets wait for buyers to return as monsoon ends
- Oil price forecasts revised lower amid volatile market
- China’s comeback: What’s in store for polymer markets after the break?
- Asian PET bottle markets continue to soften amid anemic demand