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Malaysia’s Petronas’ net profit edges up in Q4

by ChemOrbis Editorial Team -
  • 23/02/2015 (14:41)
According to media reports, Malaysia’s Petronas Chemicals’ net profit edged up in the last quarter of 2014. The company’s net profit rose 11% year over year to reach MYR500 million ($137 million) from MYR450 million ($124 million) in the same period of 2013. The increase was attributed to higher production and sales on the back of stronger operational performance. The company increased their operational performance to 88% from 66% in the three months ending December.

Petronas’ earnings before interest tax depreciation and amortisation (EBITDA) surged 88% to MYR1.3 billion ($357 million) in the October-December period while the company’s revenue for the last quarter of 2014 increased 16% to MYR3.9 billion ($1070 billion) from MYR3.35 billion ($920 million) in the same period of 2013.

For the full year of 2014, however, the company’s net profit decreased 21.6% to MYR2.47 billion ($678 million) from MYR3.15 billion ($865 million) reported in the previous year. The company’s revenue also slipped to MYR14.6 billion ($4.08 billion) from MYR15.2 billion ($4.17 billion) in 2013.
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