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Thailand’s PTT Global Chemical’s net profit up 416% in Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/11/2016 (14:54)
According to media reports, Thailand’s PTT Global Chemical posted stronger financial results for the third quarter owing to higher run rates at its refinery and inventory gains. PTT Global’s net profit surged 416% on the year to 6.23 billion baht ($178.56 million) in the third quarter. However, the company’s net profit missed analysts’ average estimates which called for a profit of 6.35 billion baht in a survey conducted by Reuters.

The company’s income posted a 1.16 billion baht gain in the third quarter on the back of an insurance claim due to an incident that occurred at its olefins plant.
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