KUALA LUMPUR, May 29 (Bernama) — PETRONAS Chemicals Group Berhad (PCG) posted Profit After Tax (PAT) of RM703 million for the first quarter in the Financial Year Ending 31 December 2024 on the back of improved sales volume and product margins.
The chemicals sector saw average prices of selected products increased in 1Q 2024 against 4Q 2023 due to seasonal demand recovery amidst the current industry downcycle. The Group attributed the improvement in profitability to lower operating costs, higher ethylene and aromatic spreads and better performance from its specialties segment.