PTT's profit down despite higher revenue
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PTT, the country's largest listed company, posted the annualised consolidated net profit of Bt94.65 billion in 2013, a 9.5 per cent drop from the previous year.
In 2012, the net profit was Bt104.6 billion.
While Dubai crude oil in 2013 went down by 3.3 per cent on year to $105.5 per barrel, PTT managed to post a 5.9 per cent increase in the sale revenue from exploration and production business, to Bt224.97 billion. The natural gas business' revenue also rose by 3.7 per cent to Bt529.33 billion while the retail oil business edged by by 1.5 per cent to Bt617 billion.
The sharpest increase was witnessed by the petrochemical business, at 11.6 per cent, to Bt93 billion.
The overall sale and service revenue rose by 1.7 per cent on year to Bt2.84 trillion.
In the fourth quarter, the group showed the foreign exchange loss of Bt5 billion due to the appreciation of the Thai baht against US dollar. For the entire year, it booked forex gain of Bt305 million, against the gain of Bt7.13 billion in 2012.
