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Gulf reports Q1 profits surge 28% to B5.3bn
Bangkok Post
|May 10, 2025
SET-listed Gulf Development’s diversification into the telecom business is bearing fruit, helping the energy developer drive revenue in the first quarter, with net profit soaring by 28% to 5.3 billion baht.
The company registered a profit of 4.15 billion baht in the same period last year.
Chief financial officer Yupapin Wangviwat attributed the increase to profit from major telecom operator Advanced Info Service Plc (AIS), the full-quarter operation of gas-fired power plants and the liquefied natural gas (LNG) business.
AIS is a subsidiary of Intouch Holdings Plc, which merged with Gulf Energy Development Plc to become Gulf Development.
Businesses under Gulf Development helped the company rack up a total of 32.3 billion baht in revenue in the first quarter.
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