Thailand's PTT Q4 swings to $458m net profit

22 February 2010 02:34  [Source: ICIS news]

SINGAPORE (ICIS news)--Thailand’s major oil and gas group PTT reported on Monday a fourth-quarter net profit of Thai baht (Bht) 15.2bn ($458m), reversing a loss of Bht22.2bn in the same period in 2008, on the back of strong sales.

Sales for the October-to-December 2009 period jumped 40% year on year to Bht451bn, mainly due to higher product prices, the company said in a disclosure to The Stock Exchange of Thailand.

PTT’s earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter surged 84% year on year to Bht40.8bn, the company said.

Its petrochemical segment posted a Bht129m earnings before interests and taxes (EBIT) in the December quarter against a loss of Bht186m in the same period in 2008, PTT said.

For the full year, the company said group net profit rose 15% to Bht59.6bn although sales fell 21% to Bht1,586bn.

($1 = Bht33.16)

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By: Nurluqman Suratman

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