Driven by improved polymer-naphtha margin and a 4% increase in sales volume, Titan Chemicals Corp Bhd's net profit has surged to RM143.5 mln in Q3-09 ended Sept 30. Titan posted a significantly higher pre-tax profit of RM224.128 mln in Q3-09 compared with RM20.989 mln in Q3-08. Revenue dropped 26% to RM1.52 bln as compared to RM2.05 bln recorded a year ago. A 28% decrease in sales price corresponded with a drop in oil price, resulting in a reduction in revenue for Q3. The increase was mainly driven by a 15% increase in the average selling price of its products. The company saw improved margins and lower fixed operating and finance expenses.
Titan expects polymer demand to be sustained in the last quarter of the year. Margins may be affected by the additional polymer supply from new manufacturing plants in the Middle East and China.
28-Oct-09 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}