SINGAPORE (ICIS)--Thailand’s IRPC swung to a net profit of Thai baht (Bt) 178m ($5.55m) in the second quarter of 2014 from a net loss of Bt1.16bn in the same period last year, buoyed by higher product prices and volumes, the company said on Tuesday.
The company’s net sales rose by 6.71% year on year to Bt71.7bn in the second quarter, while its earnings before interest, tax, depreciation and amortisation (EBITDA) was up by 66.2% at Bt1.96bn, the company said in a filing to the Stock Exchange of Thailand.
The company’s overall petrochemicals sales volume rose by 11.6% year on year to 347,000 tonnes in the second quarter of this year, according to IRPC.
For the first half of this year, the company posted a net profit of Bt522m, compared with a net loss of Bt1bn in the same period of 2013.
Its overall net sales rose by 5% year on year to Bt7.4bn in January-June this year, it added.
IRPC is an affiliate of Thailand energy major PTT.
($1 = Bt32.1)