KUALA LUMPUR, Aug 23 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) registered another strong quarterly revenue and profits for 2Q 2022. Revenue grew 17% year-on-year, lifted mainly by increased product prices on the back of high crude oil and natural gas prices. Between March and June 2022, Brent crude oil price was at 10-year historical high as the Russia-Ukraine crisis escalated. Plant utilisation rate, however, declined following major scheduled plant turnaround and maintenance activities. Despite lower production and sales volume, PCG posted strong Profit After Tax (PAT) of RM1.9 billion.
On a cumulative basis, the Group’s 1H 2022 Revenue and PAT, increased by 29% and 19%, to RM13.2 billion and RM3.9 billion respectively, against the same period last year. PCG also announced an interim dividend payout of RM2.0 billion representing 51% of 1H 2022 PAT.
