Kuwait's EQUATE 2012 net profit rises 3% on record sales

07 February 2013 08:21  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait’s EQUATE Petrochemical on Thursday reported a 3% year-on-year increase in its 2012 net profit to $1.09bn (€807m), backed by record sales.

“Sales value in 2012 has exceeded $2.60bn for the first time in EQUATE’s history,” EQUATE president and CEO Mohammad Husain said in a statement.

The company did not provide further details of its financial results.

EQUATE is a joint venture between Petrochemical Industries Co (PIC), Dow Chemical (Dow), Boubyan Petrochemical Co (BPC) and Qurain Petrochemical Industries Co (QPIC).

($1 = €0.74)

By: Nurluqman Suratman

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