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Malaysia’s Petronas’ profits up 25% in Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/11/2014 (03:58)
According to a press release dated November 6 on the company’s website, Malaysia’s Petronas Chemicals announced its financial results for the third quarter of this year. The company’s net profit increased 25% on a quarterly basis to reach MYR732 million ($218.8 million) in the third quarter of 2014.

The company’s stronger results were attributed to higher sales, especially for its high-margin ethane based products and higher plant utilization at its olefins and derivative units when compared to the previous quarter.

Meanwhile, Petronas’s earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 15% to reach MYR1.1 billion ($329 million) in the third quarter.
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