REPUBLIKA.CO.ID, JAKARTA -- The country's largest petrochemical company PT Chandra Asri Petrochemical Tbk recorded a 350.4 percent surge in profit on-year in the first half of this year.

The net profit of the publicly traded company shot up to US$30.5 million in the first six months of the year, from US$6.8 million in the same period last year.

"This is a positive performance in the first half of 2015," a director of PT Chandra Asri Petrochemical Tbk, Suryandi said in a news release here on Saturday.

The income of the company fell 38.3 percent year-on-year to US$799.8 million in the first six months of the year, but its gross profit surged 58.4 percent to US$88.6 million.

The increase in gross profit was attributable to higher profit margin and a sharp fall in the prices of basic materials and oil in the world market, Suryandi said.

The profit margin rose to 11.1 percent in the first half of 2015 from 4.5 percent a year earlier, he said.

The company plans 90-day shut down in the last quarter of this year during the process of tie-in with its new cracker facility with the existing facility.

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