Aromatics' profits leap
Aromatics (Thailand) yesterday reported a 2006 net profit of Bt6.42 billion, an increase of 22 per cent on the 2005 figure of Bt5.24 billion, thanks to higher product prices.
The company had a net profit of Bt2.16 billion in the fourth quarter, a leap of 209 per cent from Bt699 million in the same period in 2005. In 2006, average product prices increased 17 per cent, while average feedstock prices rose 21 per cent, which was in line with the increase in crude oil prices. Sales volume grew by 219,035 tonnes from 2,521,023 in 2005 to 2,740,058 in 2006. Paraxylene sales increased by 11,466 tonnes. Although the total sales volume increased, the margin decreased by Bt576 million due to a decrease in the volume of high-priced main products by 81,306 tonnes. Processing costs for 2006 grew by Bt120 million from 2005. The main increases were utility costs, but average costs per tonne decreased from Bt968 in 2005 to Bt935 in 2006. In 2005, the company registered losses in foreign exchange of Bt407 million, but in 2006 gains in foreign exchange reached Bt763 million - an increase of Bt1.17 billion, as a result of the depreciation of the US dollar from Bt41.07 at the end of 2005 to Bt36.04 at the end of 2006. The gain of Bt763 million comprised realised gain on foreign exchange of Bt697 million and unrealised gain of Bt66 million. The Nation
|
