PTTAR Q2 net profits drop 29% on weak aroms

13 August 2008 06:48  [Source: ICIS news]

SINGAPORE (ICIS news)--Thailand’s PTT Aromatics and Refining (PTTAR) has posted a 29% year-on-year dip in its second-quarter net profits to baht (Bt) 4.1bn ($121.6m), the company said in a filing to the Stock Exchange of Thailand on Wednesday.

The aromatics arm of the company posted a continued loss of Bt 389m from high feedstock values that peaked in May when crude reached historical values.

The company’s financial statements also reflected a significant foreign exchange loss of Bt 837m due to the ongoing weakening of the Thai baht.

Revenue for the quarter rose 22% to settle at Bt 74.7bn year on year due to a better product to feed margin that was achieved during the period.

($1 = Bt 33.72)

To discuss issues facing the chemical industry go to ICIS connect

By: Bohan Loh
+65 6780 4359

< previous article(ICIS Chemical Business podcast November 2, 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly