Thailand's PTT Posts Record Quarterly Loss in 4Q on Weak Oil Prices

Reuters

BANGKOK, Feb 20 (Reuters) – PTT PCL, Thailand's largest energy firm, on Friday reported its worst-ever quarterly loss for the fourth quarter of last year, hit by the plunge in oil prices.

It recorded a net loss of 26.6 billion baht ($817 million) for the October-December quarter, versus a 14.8-billion baht profit a year before. Ten analysts polled by Reuters had forecast an average loss of 26.4 billion baht.

For the whole 2014, net profit dropped 40 percent to 55.8 billion baht.

Shares in state-controlled PTT, valued at $31 billion, have dropped 8 percent in the past three months, underperforming a 1.4 percent gain in the broad Thai index. ($1 = 32.60 Baht)

(Reporting by Khettiya Jittapong)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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