Patipat JanthongPTT Plc hopes it has a better response to the Covid-19 impact later this year with a "vital concept", though it did move from red to black on its balance sheet in the second quarter. Its revenue in the second quarter fell 40% to 341 billion baht, from 570 billion in the same period of 2019. Looking at the performance in the first half this year, PTT saw its profit plummet by 81% to 10.5 billion baht, from 55.2 billion year-on-year. Revenue dipped 26% to 825 billion baht from 1.1 trillion baht in the same period last year. The company recently issued a 50-year debenture worth US$700 million in Asia and emerging markets, as well as green bonds worth 35 billion baht to maintain cash during the economic recession.

Source: Bangkok Post August 12, 2020 00:11 UTC