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Indorama reports fall in first-quarter profits

12:13 PM MDT | May 12, 2014 | Deepti Ramesh

Indorama Ventures (Bangkok) reports a 12.6% fall in profits for the first quarter of 2014 compared with the first quarter of 2013, to 444 million baht ($13.6 million). First-quarter sales increased 11%, however, to baht61.64 billion. Sales grew as a result of higher sales volumes, but rapidly falling feedstock prices weakened prices of polyethylene terephthalate (PET) and polyester products, Indorama says. Core Ebitda increased 82.5% in the first quarter of 2014 compared with the year-ago period, to baht5.06 billion. “The company’s is pleased with its...

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