PTTGC Jumps 3.5% as the Analyst Expects a ฿1.6Bn Profit in Tomorrow’s Earnings Report

The share price of PTT Global Chemical Public Company Limited (PTTGC) jumped ฿1.75/share or 3.57% to ฿50.75/share in anticipation of a rebound of net profit in 2Q20.

 

Mr. Kongkrapan Intarajang, Chief Executive Officer of PTTGC, stated that the sales in 2Q20 would potentially expand when compared to the low point in 1Q20 as demand for plastic beads continued to rise, coupled with higher productions after a maintenance closure in 1Q20.

PTTGC is expected to announce its 2Q20 earnings on August 7, 2020, while DBS Vickers Securities estimated PTTGC’s 2Q20 net profit to be at 1.63 billion baht, rebounded from a net loss of 8.7 billion baht in 1Q20, but still lower than its net profit in 2Q19, which reported at 2.2 billion baht, mainly from a better performance in aromatic business, lower stock loss and a net gain in FX.