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Thai PTTGC posts financial results in Q1, plans growth for 2017

by ChemOrbis Editorial Team -
  • 17/05/2017 (12:57)
According to media reports, Thai PTTGC posted a net profit of THB13.2 billion ($383 million) in Q1 of 2017, up by around 300% from a year earlier. The company attributed the rise in its net profit to higher crude oil prices compared to the previous year as well as large margins between products and raw materials.

However, the company estimates its earnings in the next quarter to be the lowest of 2017 because of the maintenance shutdown in Q2.

The company also said it estimates a sales growth of about 26% in 2017 and plans an investment of THB50 billion ($1.5 billion), THB26 billion ($750 million) of which will be used to acquire shares of petrochemical, propylene and biochemical business units from PTT Pcl in Q3. The remaining THB24 billion ($695 million) will be used for projects which include making plastics for automotive, construction and electronic industries.
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