National Petrochemical consolidated net profit

Thai National Petrochemical PCL posted a consolidated net profit of THB 416.2 million for the quarter ended 30 September, up 9.1% from a net profit of THB 381.5 million a year earlier.
The better-tha…

Thai National Petrochemical PCL posted a consolidated net profit of THB 416.2 million for the quarter ended 30 September, up 9.1% from a net profit of THB 381.5 million a year earlier. The better-than-expected profit was due to its production of olefins, which ran at full capacity of 141,142 metric tons in the quarter, and improved revenues from its power generation affiliate, the company said. For the first nine months of the year, National Petrochemical“s net profit stood at THB 1.35 billion, compared with THB 1.69 billion a year earlier. Earnings per share were THB 1.34 for the third quarter, compared with THB 1.23 a year ago, and THB 4.35 for the nine-month period, compared with THB 5.44. The company“s performance beat many analysts“ expectations. National Petrochemical president Viroj Mavichak said in a statement that third-quarter sales of olefins and utilities amounted to THB 3.3 billion, up 6% on year, and rose 2% on year to THB 9.95 billion over the nine months. Revenues from other non-core services rose 5% on year to THB 259 million for the quarter and amounted to THB 754 million in the January-September period. Viroj noted the higher quarterly earnings were achieved despite a 22% on-year decline in olefins prices during the quarter. National Petrochemical“s power generation affiliate had a capacity of 170 MW in the third quarter after the completion of a 70-MW expansion.