State-owned PTT Plc, Thailand’s largest conglomerate, reported a 42.9% jump in net profit to 135.2 billion baht in 2017 due to improved performances in all business groups.
President and CEO Tevin Vongvanich said the natural gas, petrochemical and refinery businesses benefited from higher oil prices.
Its flagship PTT Exploration and Production Plc also showed robust performance on higher oil prices. As well, a strong baht resulted in higher foreign exchange gains.
In the fourth quarter last year, PTT and its subsidiaries posted an 85% year-on-year jump in net profit to 35.4 billion baht.
“The exploration and production businesses did better on higher volumes and sale prices while the gas separation business benefited from higher sales,” he said.
PTT shares closed up 0.41% to 490 baht in trade worth 2 billion baht before the operating results were filed with the Stock Exchange of Thailand on Tuesday.
