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PTT Global Chemical reports fall in first-quarter profits

6:15 AM MDT | May 7, 2014 | Deepti Ramesh

PTT Global Chemical (PTTGC; Bangkok) reports a 47.8% fall in net profits for the first quarter of 2014 compared with the first quarter of 2013, to 6.29 billion baht ($195 million). First-quarter sales increased 3.6%, however, to baht146.3 billion. The first-quarter results of the company were stunted by the softened performance of the aromatics business, for which the the selling price of para-xylene fell significantly, PTTGC says. The maintenance shutdown of two olefins plants hurt the performance of the olefins and olefins derivatives business, while the...

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