PTT Global Chemical Plc has announced Bt40.06 billion in net profit, up 1.9 per cent from Bt39.29 billion in 2017, according to the company’s report to the Stock Exchange of Thailand released late on Monday.
Meanwhile, the company has recorded sales revenue of Bt515.449 billion, growing by 18 per cent from the previous year. Operating profit, excluding non-recurring items, was Bt42.608 billion, a 13 per cent jump from the previous year. The main contributors to the bump were higher product prices, along with a sales volume increase, a continuing high price for polyethylene in the first nine months, and recovery of the phenol chain.
Also, there was an increase in the share of profits from investments in petrochemical businesses, especially the Acrylonitrile business, Asset Injection, and benefits from enhancing the organisation’s efficiency through the MAX project. However, there was an effect on stock loss as a result of declining crude oil price during the year-end, and a Bt1,355-million gain from acquisitions. The company’s net profit was Bt40.069 billion, or Bt8.89 per share, increasing by 1.9 per cent from the previous year.