AlwaysFree: Petronas Chemicals Reports Tenfold Jump In Q2 Net Profit

Malaysia’s Petronas Chemicals Group Bhd (PetChem) reported a net profit of MYR1.86 billion ($441.68 million) for the second quarter of 2021, representing a tenfold jump from a year earlier. Quarterly revenue increased to MYR5.61 billion ($1.33 billion) from MYR3.18 billion a year prior. For the first half of the year, net profit soared to MYR3.32 billion ($788.38 million) from RM692 million a year earlier, while revenue rose to MYR10.28 billion ($2.44 billion) from RM7.07 billion. PetChem also announced a first interim dividend of 23 sen per share for the second quarter. Following the earnings report, PetChem’s share rose 5.5% to MYR8.60 ($2.04) on Thursday morning.