Petronas net profit soars 22 pct to RM55.3 bln in FY2018

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Petroliam Nasional Bhd or Petronas’ net profit rose 22 per cent to RM55.3 billion in the financial year ended Dec 31, 2018 from RM45.5 billion in 2017, on the back of higher revenue and supported by a net write-back of impairment on assets.

Meanwhile, revenue also increased by 12 per cent to RM251 billion from RM223.6 billion in Financial Year 2017, mainly due to higher average realised prices for all key products.

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