Thailand’s PTTGC Q1 net profit grows 23%; sales up 6%

08 May 2013 04:04  [Source: ICIS news]

SINGAPORE (ICIS)--PTT Global Chemical  (PTTGC) posted a 23% year-on-year increase in its first-quarter net profit to baht (Bt) 12.1bn ($409m) as sales and margins improved, the Thai firm said late on Tuesday.

Sales rose 6% to Bt141.3bn in the three months ending March 2013, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 10% to Bt16.4bn, the company said in a filing to the Stock Exchange of Thailand.

EBITDA margin inched up to 12% in the March quarter from 11% in the same period last year.

“The olefins and derivatives business unit operated at a higher utilization rate and with higher sales volume, where HDPE [high density polyethylene] price averaged at $1,482/tonne [€1,126/tonne],” PTTGC said.

($1 = Bt29.59, $1 = €0.76)

By: Pearl Bantillo
+65 6780 4359

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