Thailand's IRPC swings to Q2 net loss of $128m

27 July 2012 11:05  [Source: ICIS news]

SINGAPORE (ICIS)--Thailand’s Integrated Refinery and Petrochemical Complex (IRPC) swung to a second-quarter net loss of baht (Bt) 4.06bn ($128m) this year, compared with a net profit of Bt2.34bn in the same period in 2011, partly on higher financing costs, the firm said on Friday.

The refinery and cracker operator’s net sales rose by 11% year on year to Bt72.3bn in the second quarter, the company said in a statement.

In the first half of this year, the company posted a net loss of Bt3.12bn, compared with a net profit of Bt6.11bn in the same period a year earlier, the company said.

The firm’s net sales for the January-June period of this year rose by 20% year on year to Bt146.3bn, it said.

IRPC is a subsidiary of Thailand’s state-owned oil and gas firm PTT.

($1 = Bt31.6)

By: Nurluqman Suratman

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