PTT Chemical Q2 net profit falls 57% on weak olefins/polymers

13 August 2009 14:49  [Source: ICIS news]

LONDON (ICIS news)--Thailand’s PTT Chemical reported a 57% year-on-year fall in its second-quarter net profit to Bt2.28bn ($66.8m), the company said on Thursday.

Sales revenues for the three months were down 16% at Bt20.71bn.

Net profit from the company’s olefins and shared facilities segment fell sharply to Bt1.11bn from Bt2.09bn in the second three months of 2008. The ethylene oxide (EO)-based businesses straggled to a profit of just Bt37m from Bt1.55bn in the same period last year.

The company's oleochemicals businesses were in loss in the quarter.

PTT Chemical’s polymer operations reported a net profit for the period down 34% year on year at Bt1.08bn.

Total segment net profit more than halved to Bt2.14bn from Bt5.28bn.

($1 = Bt34.13)

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By: Nigel Davis
+44 20 8652 3214

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