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PTT Global Chemical Q4 profit climbs 37.6% YOY

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PTT Global Chemical Q4 profit climbs 37.6% YOY

PTT Global Chemical PCL said its fourth-quarter normalized net income amounted to 1.66 baht per share, compared with the S&P Capital IQ consensus estimate of 1.66 baht per share.

EPS increased 38.8% year over year from 1.19 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.39 billion baht, an increase of 37.6% from 5.37 billion baht in the prior-year period.

The normalized profit margin rose to 6.7% from 5.5% in the year-earlier period.

Total revenue grew 14.2% on an annual basis to 110.69 billion baht from 96.91 billion baht, and total operating expenses rose 5.5% on an annual basis to 97.29 billion baht from 92.25 billion baht.

Reported net income grew 107.8% on an annual basis to 9.74 billion baht, or 2.18 baht per share, from 4.69 billion baht, or 1.04 baht per share.

For the year, the company's normalized net income totaled 4.15 baht per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5.12 baht.

EPS rose from 3.50 baht in the prior year.

Normalized net income was 18.53 billion baht, a rise from 15.78 billion baht in the prior year.

Full-year total revenue declined from the prior-year period to 349.10 billion baht from 403.44 billion baht, and total operating expenses decreased on an annual basis to 318.65 billion baht from 377.59 billion baht.

The company said reported net income grew year over year to 25.60 billion baht, or 5.74 baht per share, in the full year, from 20.50 billion baht, or 4.55 baht per share.

As of Feb. 14, US$1 was equivalent to 35.03 baht.