PTT's earnings up on strong economy

PTT's earnings up on strong economy

BANGKOK: Thai energy giant PTT said Friday the company's net
profit for the nine months to September rose 62.9 percent
year-on-year to 27.96 billion baht (US$700.8 million) due to the
strong domestic economy.

The result also came about due to the government's stimulus
policies and low interest rates, PTT president Prasert Bunsumpun
said in a statement.

The company's sales in the first nine months totalled 367.83
billion baht, up 27.9 percent year-on-year.

Earnings before interest, tax, depreciation and amortisation
(EBITDA) totalled 47 billion baht, against 39.70 billion a year
earlier.

In addition, the company booked income of 7.57 billion baht
from investments in subsidiaries on the back of rising sales
volume and higher product prices, especially for petrochemicals
and other refinery products.

The company's sales in the third quarter totalled 121.38
billion baht, up 15.8 percent from the same period last year, he
said.

EBITDA in the third quarter totaled 15.45 billion baht against
14.81 billion the previous year. --AFP