Thailand: PTTEP Net Income Drops

PTTEP of Thailand said that the company and its subsidiaries’ total revenues were USD 1,667 million (equivalent to 52,164 million baht), an increase of USD 180 million or 12% when compared with USD 1,487 million (equivalent to 45,012 million baht) in the second quarter 2011.

Total expenses were USD 982 million (equivalent to 30,786 million baht), an increase of USD 212 million or 28% when compared with USD 770 million (equivalent to 23,299 million baht) in the same quarter of last year.

The company and its subsidiaries recorded a net income of USD 250 million (equivalent to 7,733 million baht) compared with net income of USD 370 million (equivalent to 11,170 million baht) in the second quarter 2011.

The company and its subsidiaries’ total consolidated assets, as of June 30, 2012 were USD 14,527 million (equivalent to 462,351 million baht), total liabilities were USD 7,532 million (equivalent to 239,714 million baht), and total shareholders’ equities were USD 6,995 million (equivalent to 222,637 million baht).

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LNG World News Staff, July 24, 2012; Image: PTTEP