KUALA LUMPUR, April 27 (Bernama) -- Lotte Chemical Titan Holding Bhd recorded a net loss of RM224.76 million for the first quarter ended March 31, 2023 (1Q FY2023), compared to a net profit of RM104 million registered in the same quarter last year. Revenue declined 29 per cent to RM1.97 billion from RM2.76 billion previously. In a filing with Bursa Malaysia today, Lotte Chemical Titan said the lower revenue was due to a lower average product selling price and sales volume, while the net loss recorded during the quarter was largely due to a drop in margin spread due to weakened market demand resulting from the volatile external environment, such as higher interest rates and global recession fear.

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