11 May 2012 03:44 [Source: ICIS news]
SINGAPORE (ICIS)--PTT Global Chemical’s (PTTGC) first-quarter net profit fell by 12% year on year to Thai baht (Bt) 9.85bn ($316.7m), weighed by high feedstock costs and waning overseas demand, the Thailand-based chemicals maker said late on Thursday.
The company’s revenues rose by 29% year on year to Bt133.7bn in the first three months of 2012, but earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 20% to Bt14.6bn, the company said in a statement.
“The increase in crude oil prices led to higher energy cost and higher feedstock cost, hence, resulted in higher petroleum and petrochemical product prices,” it said.
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“However, concerns over the uncertainty of economic situation in Europe and US, along with the more cautious economic policy in
PTTGC is the petrochemicals flagship company of
($1 = Bt31.1)
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