Equate posts 14% jump in full-year net income | Equate posts 14% jump in full-year net income -

Equate posts 14% jump in full-year net income

: Monday, March 03 - 2014 @ 00:35

Kuwait-based Equate Petrochemical Co has said its net profit for the fiscal year ending December 31, 2013 jumped 14% to a record $1.25bn, compared with $1.09 a year earlier. For the first time ever in the company’s history, sales value surged to over $2.88bn, despite several challenges both locally and regionally, said Equate. Last year, Equate launched the polyethylene (PE) plant debottlenecking project, which is expected to be completed during 2015, to increase its current capacity of 825,000 metric tonnes annually (MTA), while focusing on increasing and optimising its production capacities relevant to products of ethylene, polyethylene and ethylene glycol, the company said.

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Monday, March 3- 2014 @ 0:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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