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(Bangkok Post) -- Higher sales and
margins pushed up the first-quarter profits of PTT Aromatics and Refinery Plc
(PTTAR) and PTT Chemical Plc (PTTCH), whose shareholders endorsed their merger
last month.
PTTCH, Southeast Asia's largest olefins maker, posted a net profit of
6.18 billion baht, up 95% from the same period in a year earlier. Revenues rose
49% to 35.37 billion baht.
The company said it benefited from higher olefins production volume from
the PTT Polyethylene Co (PTTPE) cracker, which started commercial operations
last December. As well, it saw gains from high-density polyethylene (HDPE) and
ethanolamines (EA) production at Thai Ethanolamines Co (TEA) which started
operations in January 2011, and the low-density polyethylene (LDPE) unit of
PTTPE, which started commercial operations in February this year.
mrcplast.com
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