KUALA LUMPUR, Aug 13 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) released its second quarter 2019 financial results today, showing an improvement from the previous quarter amid challenging environment.
The Group recorded higher production volume during the quarter as the Group achieved higher plant utilisation rate of 100% in 2Q 2019 compared to 95% in 1Q 2019. Revenue grew by 5% to RM4.3 billion during the quarter, mainly due to higher sales volume in line with higher production. Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA) rose 21% to RM1.5 billion with higher sales volume and favourable foreign exchange impact. EBITDA margin increased to 35% while Profit After Tax (PAT) improved 37% to RM1.1 billion from RM813 million in line with higher EBITDA.
