OR Bounces Back 4% after 2020 Earnings at ฿8.8Bn Beat Forecasts

The share price of PTT Oil and Retail Business Public Company Limited (OR) rebounded ฿1.25/share or 4.24% to ฿30.75/share as of 11:48 on Thursday with a trading value of 4,436 million baht.

 

OR’s price dropped 3.68% on Tuesday and 9.92% on Wednesday after the share price rose 89% within two trading days from its IPO at ฿18.00/share.

The rebound in today’s trading session might be due to the earnings announcement last night that came out better than forecasts.

 

In 2020, OR reported a net profit of 8,791 million baht, decreased 19.32% from a net profit of 10,895 million baht in 2019 due to a drop in sales and services revenue, higher depreciation and amortization expenses and the reclassification of expenses.

Nevertheless, a net profit of 8,791 million baht was better than what analysts had expected. Capital Nomura Securities (CNS) estimated OR’s net profit in 2020 at the amount of 8,469 million baht.

Moreover, the Board of Directors of OR approved a resolution to pay a dividend payment at a value of ฿0.10/share on April 28, 2021. The ex-dividend date is March 16, 2021.