KUALA LUMPUR, Nov 28 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) announced Profit After Tax (PAT) of RM439 million in 3Q 2023 on the back of RM6.8 billion revenue amidst market and operational challenges during the period.
The Group’s revenue declined 5% quarter-on-quarter from RM7.1 billion in 2Q 2023 on lower sales volumes amidst continuing weak demand stemming from slowdown in global manufacturing sector. Specialties segment which contributed 22% to the Group revenue saw continued destocking activities in the face of fierce competition, particularly in Europe.