Petronas Chemicals Q2 net profit down 8.9%

PETALING JAYA: Petronas Chemicals Group Bhd registered a net profit of RM503mil for the second quarter ended Sept 30, 8.9% lower than RM552mil in the same period last year due to lower operating profit.

In a filing with Bursa Malaysia, Petronas Chemicals said its operating profit fell to RM572mil from RM814mil in the corresponding quarter last year.

Operating profit in the corresponding quarter included a once-off negative goodwill of RM175mil arising from the acquisition of Optimal Glycols (M) Sdn Bhd. In addition, the consolidation of Optimal Glycols and Optimal Chemicals (M) Sdn Bhd resulted in higher amortisation and depreciation expense by RM75mil in the current quarter, it said.

It said the above factors resulted in lower operating profit and contributed to a lower profit.

The group's revenue rose 10% to RM3.17bil from RM2.88bil in the previous corresponding period, driven by higher realised prices for most products as demand increased on the back of improved market condition.

This is further supported by higher sales volume with improved plant utilisation and additional volume contribution from acquisition of Optimal Chemicals in September last year, it said.

Its net profit for the first six months was RM1.19bil, up from RM980mil in the same period last year, supported by share of profits of associates and jointly controlled entities increasing by RM212mil, mainly due to an increase of profits in BASF Petronas Chemicals.

It registered higher revenue of RM6.3bil in the first six months, compa red with RM5.2bil.

（吉隆坡29日讯）鉴于在收购活动中承担一次过商誉支出，促使国油石化（PChem，5183，主板工业产品股）在2011财年第二季的净利下跌近9%。

截至2010年9月30日止的第二季，国油石化取得5亿300万令吉的净利，上财年同期为5亿5200万令吉，按年下跌8.88%。

第二季的营业额，则在更高产品价格且更高的销量贡献下，上涨9.95%至31亿7000万令吉，上财年同期为28亿8300万令吉。

截至2010年9月30日的6个月，国油石化的净利报11亿8800万令吉，劲扬21.22%，上财年同期只有9亿8000万令吉；营业额则从52亿2100万令吉，涨21.34%至63亿3500万令吉。

国油石化在文告表示，该集团的营运主要将受到国际石化产品价格、全球经济状况，以及生产线使用率波动所影响。

尽管如此，国油石化董事部预料，集团在截至2011年3月31日的财年，将可获得令人满意的业绩表现。