Petronas Chemicals 2Q Net Profit At RM414 Mln Vs RM1.08 Bln Net Loss A Year Ago
KUALA LUMPUR, Aug 19 (Bernama) -- Petronas Chemicals Group Bhd's (PCG) net profit surged to RM414 million in the second quarter ended June 30, 2026 (2Q FY2026) from a net loss of RM1.08 billion in the same quarter a year earlier.
The group delivered solid earnings on the back of robust demand and higher product spreads, despite undertaking major planned maintenance activities that moderated production and sales volumes.
Its revenue improved by 13 per cent to RM7.90 billion from 6.43 billion previously, driven by higher average product prices across both commodities and specialty chemicals portfolio, coupled with improved contribution from strategic sourcing and trading activities.
PCB announced an interim dividend of six sen per share, amounting to RM480 million for the financial year ending Dec 31, 2026 (FY2026), it said in a filing with Bursa Malaysia.
For the cumulative six months (1H 2026), PCB delivered net profit of RM815 million compared with a net loss of RM1.09 billion previously, while revenue increased marginally to RM14.91 billion from RM14.09 billion a year ago.
PCG managing director and chief executive officer Mazuin Ismail said in a statement that 2Q was operationally challenging, with major planned turnaround activities at several facilities at the Kertih Integrated Petrochemical Complex (KIPC) and the urea plant in Bintulu.
"We upheld our commitment to safe and reliable operations by completing the turnaround activities without any major health, safety, and environment incidents," he said.
PCG recorded better financial performance supported by improved average product spreads amid the prolonged West Asia conflict, he said.
"We captured market upside by prioritising domestic and regional customers, maximised spot sales opportunities, and leveraged sourcing and trading activities to strengthen earnings," he said.
Mazuin said PCG remains focused on safe execution, operational discipline and business resilience as the group prepares for another major planned turnaround at Petronas Chemicals Methanol Sdn Bhd’s Plant 2 and continues the ramp-up of Pengerang Petrochemical Co Sdn Bhd in the third quarter.
-- BERNAMA