PTT Gains Slightly Lower of Profit in 2018, Recording ฿120bln., Offering ฿1.20 Dividend

PTT Public Company Limited (PTT) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:

In 2018, PTT had net income of THB 119,684 million, 11.5% drop or THB 15,496 million from 2017 net income of THB 135,180 million. The cause of the decline was due to the recognition of an impairment loss on assets of the Mariana Oil Sand Project amounting to THB 18,505 million in 2017.

While the performance of gas business group, both operating by PTT’s and it’s affiliates also increased except NGV business, petrochemical and refining businesses’ performance decreased mainly from stock loss following the sharp drop of crude oil prices in the fourth quarter of 2018 while there was a stock gain in 2017.

The olefins and aromatics petrochemical business performance also decreased from the lower petrochemical spreads especially during the end of 2018 due to the concern on the slowdown in the world economy and unresolved of the United States and China trade war, despite the increase in sales volume.

 

In addition, PTT announced dividend payment from retained earnings to the shareholders at the rate of ฿1.20/share in cash to be paid on April 30, 2019. The ex-dividend date is March 6, 2019.