PTT Global Chemical Reports Fall in Quarterly Profits

PTT Global Chemical (Bangkok), Thailand’s largest integrated petrochemical and refining company, recorded a 11.7% fall in net profits for the first quarter ended March 31, 2012, compared with the year-ago period, to baht9.85 billion ($316 million). First-quarter sales increased 29%, to baht133.6 billion. The former PTT Chemical, and PTT Aromatics and Refining—each company an affiliate of energy firm PTT (Bangkok) —completed their merger in October 2011, to create PTT Global Chemical. PTT Global Chemical prepared an unaudited proforma...

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