Thai PTT Chemical turns to net loss in Q1

15-May-2009 Intellasia | Reuters | 7:01 AM

PTT Chemical PCL, Thailand’s largest olefins maker, reported a net loss in the first quarter on Wednesday, due mainly to weak margins and a foreign exchange loss.

PTTCH, a flagship in the olefins petrochemical business of energy giant PTT, posted a January-March net loss of 392 million baht, versus a net profit of 5.72 billion baht a year earlier.

It was its second consecutive quarter of losses after PTTCH made a net loss of 4.18 billion baht in the fourth quarter.

Nine analysts surveyed by Reuters had forecast a net loss in a range of 111 and 387 million baht for the quarter.

PTTCH produces ethylene and propylene, together called olefins, used to make plastic pellets, especially for the packaging industry.

http://asia.news.yahoo.com/rtrs/20090513/tbs-pttch-results-7318940.html