Profits fall in Thailand on oil costs

Corporate profits in Thailand dropped in the fourth quarter as crude oil prices pushed up costs at companies like Thai Airways International and Aromatics (Thailand).

“You’ve seen a slowdown in the fourth quarter, and profit is down primarily on the energy costs,” said Thanawat Patchimkul, head of research at DBS Vickers Securities (Thailand). “It’s the same pattern happening in terms of the corporate level and the macroeconomic level.”