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PTTEP books 3% profit rise



By Upstream staff 

Thailand's PTT Exploration & Production (PTTEP) has booked a 3% increase in third-quarter profits, coming in below analysts' estimates.

PTTEP posted a net profit of 7.05 billion baht ($225 million), up from 6.8 billion baht a year earlier but down from 7.16 billion baht in the previous quarter.

Seven analysts surveyed by Reuters forecast a net profit of 7.38 billion baht for the quarter.

For the whole 2007, the company was expected to make a net profit of 28.7 billion baht, up 2.5% from 2006, according to 15 analysts polled by Reuters Estimates. In the first nine months of 2007, it made a net profit of 20.9 billion baht.

Third-quarter revenues were almost flat at 22.5 billion baht and expenses fell 0.16% to 11.3 billion baht, the company said in a statement which gave no further details.


Friday, 26 October, 2007, 11:15 GMT  | last updated: Friday, 26 October, 2007, 11:24 GMT

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