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Malaysia’s Petronas reports financial results for Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 21/02/2017 (11:05)
According to media reports, Malaysia’s Petronas Chemicals Group reported its financial results for Q4 of 2016.

The company posted a net profit of 987 million ringgit ($221.5 million) in Q4, up 40% from 704 million ringgit ($158 million) when compared to the same period of 2015. The quarterly revenue was also up by 14.4% on a yearly basis from 3.45 billion ringgit ($770 million) to 3.95 billion ringgit ($890 million), the reports revealed.

The company’s net profit for 2016 increased by 5.4% on a yearly basis to 2.93 billion ringgit ($660 million) from 2.78 billion ringgit ($620 million) in 2015.

The rise in their profit in 2016 was partly attributed to the strength of the US dollar against the local currency.
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