Thailand's PTT Fourth Quarter Net Profit Down by a Third

Reuters

BANGKOK, Feb 21 (Reuters) – Thailand's top energy firm PTT said on Friday its fourth quarter net earnings fell by a third, dragged by lower profit contributions from its exploration, refining and petrochemical businesses, plus foreign exchange losses.

State-controlled PTT, Asia's fourth-biggest listed oil and gas company by market value, posted a net profit of 15.4 billion thai baht ($473 million), down from 22.7 billion baht a year earlier.

The profit met the average forecast of 15.5 billion baht from 13 analysts polled by Reuters.

For the full year, PTT's net profit fell 9.5 percent to 94.7 billion baht.

Shares in PTT, valued at $26 billion, have fallen nearly 20 percent in the past 12 months, underperforming a 16 percent drop in the broader Thai market index. ($1 = 32.5850 Thai baht)

(Reporting by Khettiya Jittapong; Editing by Elaine Hardcastle)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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