(Bloomberg) -- PTT Pcl, Thailand's biggest energy
company, said profit this year may fall from a record as gains in
the baht erode the value of its dollar-denominated sales of fuels
and petrochemicals.
The baht's 11 percent rise against the dollar in the past 12
months will pare profit because PTT calculates its revenue in U.S.
dollars and reports earnings in baht, Chief Financial Officer
Pichai Chunhavajira said. The Bangkok-based company will probably
post ``slightly better'' earnings in U.S. dollar terms, beating
last year's record sales and net income, he said.
Read more at Bloomberg Energy News
company, said profit this year may fall from a record as gains in
the baht erode the value of its dollar-denominated sales of fuels
and petrochemicals.
The baht's 11 percent rise against the dollar in the past 12
months will pare profit because PTT calculates its revenue in U.S.
dollars and reports earnings in baht, Chief Financial Officer
Pichai Chunhavajira said. The Bangkok-based company will probably
post ``slightly better'' earnings in U.S. dollar terms, beating
last year's record sales and net income, he said.
Read more at Bloomberg Energy News
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