Malaysia Petronas 1H Net Pft Surges 88% To MYR16.87B

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Friday 5 November 11:04 PM

Malaysia Petronas 1H Net Pft Surges 88% To MYR16.87B

DJ Malaysia Petronas 1H Net Pft Surges 88% To MYR16.87B

KUALA LUMPUR (Dow Jones)--Petronas Bhd. (PET.YY), Malaysia's national oil and gas corporation, Friday said net profit in the fiscal first half ended Sept. 30 surged 88% to MYR16.87 billion ($443.9 million) from MYR8.96 billion a year ago.

The improvement was due to gains in all sectors, including exploration and production, gas operations, and trading and marketing of refined petroleum products and crude oil. Malaysia's only Fortune 500 company announced the results on its Web site.

Trading and marketing contributed the bulk, or MYR22.5 billion, of revenue during the period, which totaled MYR63.50 billion, up 44.5% from MYR43.94 billion a year ago.

Petronas is Malaysia's most profitable company and one of the country's largest bond issuers.

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November 05, 2004 07:04 ET (12:04 GMT)

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