Thailand based PTT Chemical, which produces olefins and related products for the plastic packaging industry, has reported a net profit increase of 64 per cent to Baht 5, 280m in the second quarter this year compared with Baht 3, 215m in the same period last year.
The company says the increase was due mainly to an increase in production volumes and product price. Earnings per share in Q2 08 were Baht 3.53.
The increase in production volumes was also due to the shutdown of one of the company olefins plant for maintenance for 46 days in Q2 07.
In addition, Thai Oleochemical , a subsidiary of PTTCH, started commercial operation of its Methyl Ester unit in February 2008.
