The country’s largest integrated petrochemical company, PT Chandra Asri Petrochemical (CAP), recorded a net profit of US$250.6 million in the first nine months of the year, or up by 15.8 percent compared to the same period last year, on the back of higher sales and margin.
CAP director Suryandi said in a press statement on Wednesday that he was optimistic the company would be able to maintain its positive performance for the remainder of the year by focusing on high plant utilization, safe operations and product portfolio optimization.
The company’s revenues grew by 28.6 percent to $1.39 billion year-on-year (yoy) between January and September this year on higher sales that resulted in higher utilization of its plants to produce olefins, styrene monomer and butadiene. Consolidated debts also declined to $356 million from $415 million a year ago.
The company, ow...