Petronas Chemicals share price up on higher profit
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Petronas Chemicals Group Bhd’s share price up 0.66% or 6 sen this morning, after its net profit jumped 27.9% to RM1.29 billion for the fourth quarter ended Dec 31, 2018 (Q4). As at 11.56am, the stock stood at RM9.22 with 2.93 million shares changing hands. The group said the higher profit was due to lower tax expenses and higher share of profits from joint ventures and associates.
Its revenue also increased by 6.8% to RM5.06 billion compared with RM4.74 billion in the previous year’s corresponding quarter.
It has proposed to declare a second interim dividend of 18 sen per share amounting to RM1.44 billion in respect of the financial year ended Dec 31, 2018.
Questions & Answers
Q.What were the main reasons for the company's increased profit in the fourth quarter?
What were the main reasons for the company's increased profit in the fourth quarter?
The group attributed the higher profit to reduced tax expenses and a greater share of profits from its joint ventures and associates. This contributed to a 27.9% increase in net profit for the quarter.
Q.How much revenue did Petronas Chemicals Group Bhd generate in the fourth quarter?
How much revenue did Petronas Chemicals Group Bhd generate in the fourth quarter?
The company's revenue for the fourth quarter ended December 31, 2018, increased by 6.8% to RM5.06 billion. This compares to RM4.74 billion reported in the corresponding quarter of the previous year.
Q.What dividend has been proposed by Petronas Chemicals for the financial year 2018?
What dividend has been proposed by Petronas Chemicals for the financial year 2018?
Petronas Chemicals has proposed a second interim dividend of 18 sen per share. This proposed dividend amounts to a total of RM1.44 billion for the financial year that concluded on December 31, 2018.
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