PTTGC’s Profit Exceed ฿40bln. in 2018 due to High Sales Growth, Giving ฿2.50 Dividend
PTTGC booked over 40 billion of profit in 2018 due to high sales growth, but the effect of stock loss in oil crude had suppressed its profit to grow only 2%.
PTT Global Chemicals Public Company Limited (PTTGC) has reported its consolidated financial statement yearly 2018 through the Stock Exchange of Thailand as follows:
In 2018, PTTGC’s performances had been increasing with the sales revenue of THB 515,449 million, grew by 18% from previous year. The increase was mainly contributed from higher product prices along with the increase in sales volume, maintain high polyethylene price in the first nine months, recover of phenol chain and growth in share of profits of investments in petrochemical businesses, especially Acrylonitrile (AN) business, from Asset Injection, and benefits from organization’s efficiency enhancement from MAX project.
However, the effect of stock loss as a result of declining crude oil price during the year end pressured PTTGC’s net profit to edge only a little higher to THB 40,069 million or 1.96% when compared to THB 39,298 million of profit in 2017
As for a higher performance in 2018, the Board of Directors has resolved to propose a dividend payment of ฿2.50/share in cash to be paid on April 24, 2019. The ex-dividend date is March 5, 2019..
