Petronas Chemicals Group Bhd reported lower earnings in the second quarter ended June 30, 2016 mainly due to assets write-off amounting to RM241mil due to the cancellation of an elastomers project.
It said on Tuesday earnings fell 17% to RM462mil from RM557mil a year ago. It declared an interim dividend of seven sen a share.
“Profit after tax for the quarter, however, was lower by RM105mil or 16% at RM533mil mainly due to assets write-off amounting to RM241mil (US$59mil) in relation to the cancellation of elastomers project. Excluding the write-off, profit after tax would have been higher by RM136mil or 21% at RM774mil,” it said.
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It said on Tuesday earnings fell 17% to RM462mil from RM557mil a year ago. It declared an interim dividend of seven sen a share.
“Profit after tax for the quarter, however, was lower by RM105mil or 16% at RM533mil mainly due to assets write-off amounting to RM241mil (US$59mil) in relation to the cancellation of elastomers project. Excluding the write-off, profit after tax would have been higher by RM136mil or 21% at RM774mil,” it said.
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