Fall In PTT's Q1 net
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PTT Group recorded a 28.20 per cent drop year-on-year in net profit to Bt53.74 billion for the first quarter of this year due to falls in petrochemical business and refining margin, and the US-China trade tension.
PTT Group includes PTT, PTT Exploration and Production, Thai Oil, PTT Global Chemical, IRPC and Global Power Synergy.
An analyst of KTB Securities (Thailand) said that the brokerage house has slashed its forecast of PTT by 12 per cent to about Bt120 billion. This year’s fair price is also cut from Bt57 to Bt52, given the petrochemical business’s expected under-performance.
