PTT Plc expects to reach this year's revenue target

PTT Plc remains confident that its revenue this year will reach its target of 2 trillion baht (US$65.4 billion), even though the impact of the strengthening baht is significant, says President and CEO Prasert Bunsumpun, the Bangkok Post reports. The majority state-owned energy group earned 2 trillion baht (US$65.4 billion) in revenues in 2008, when global oil prices surged to a record of US$147 a barrel, nearly double what they are today. Revenues in the first half increased by 37% year-on-year to 963 billion baht (US$31.5 billion), while net profits rose 45% to 39.7 billion baht (US$1.3 billion). (September 21, 2010)