KUALA LUMPUR, May 27 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) posted another record quarterly profit in the first quarter of Financial Year Ending 31 December 2022 (1Q 2022) on the back of higher product prices and continued strong demand. The Group’s 1Q 2022 Profit After Tax (PAT) of RM2.1 billion represents 41% year-on-year improvement compared to 1Q FY2021, while surpassing 4Q 2021 PAT of RM2.0 billion by 2% quarter-on-quarter.
The solid financial performance is mainly attributed to higher prices across all product segments, especially ammonia and urea, underpinned by elevated energy prices amidst continued strong global demand and supply disruptions.
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