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FINANCIAL NEWS
Kuwait’s PIC projects USD592m in profit over FY2015-16
15 Dec 2015
(MENAFN) Kuwaiti Petrochemical Industries Company (PIC) expects its profits to touch USD592.6 million at the end of the current fiscal year on March-31, based on reports.
Additionally, the firm has achieved a lot of achievements in 2015, chiefly the posting of USD461million in earnings so far, compared to the forecasted USD418 million.
The notorious global decline in oil prices and the severe competition in the petrochemical market ideally should have impacted the firm, but it did good anyways.
Meanwhile, the firm works hard to apply a strategic outlook to search for real opportunities in areas with abundance in the suitable feedstock for the petrochemical industry.
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