Thai PTT Misses Profit Forecast

21 February 2010 (Last Updated February 21st, 2010 18:30)

Thailand's PTT has reported a fourth-quarter net profit down by almost 4% from forecasts, turning round from a loss last year due to higher gas demand. The company posted its October-December net profit at THB15.2bn ($458m) against a loss of THB22.2bn ($669.8m) a year earlier, repo

Thailand's PTT has reported a fourth-quarter net profit down by almost 4% from forecasts, turning round from a loss last year due to higher gas demand.

The company posted its October-December net profit at THB15.2bn ($458m) against a loss of THB22.2bn ($669.8m) a year earlier, reports Reuters.

Nine analysts polled by Reuters projected an average net profit of THB15.8bn ($476.75m) for the quarter.

PTT, Thailand's biggest listed company with a market value of about $19bn, posted a 2009 net profit of THB59.5bn ($1.8bn), up 15% from THB51.7bn ($1.5bn) a year earlier.

PTT runs Thailand's gas pipeline monopoly and controls more than 30 petroleum, gas exploration, petrochemical and refinery businesses.