PTT's profits fall
PTT's first-quarter net profit dropped 4.8 per cent from the same period last year, due in part to the strengthening of the baht.
PTT's net income from January to March stood at Bt22.6 billion, down from Bt23.7 billion in the first three months of 2006, the company said in a filing to the stock exchange on Friday. Earnings per share also fell, by 5.1 per cent to Bt8.05.Although revenues rose 10.4 per cent to Bt298.3 billion, the company's gain on foreign exchange plunged 66.9 per cent to Bt1.7 billion. PTT said revenues had increased due to a higher sales volume of refined products and natural gas, although prices for refined products have decreased.
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