GULF’s Sales Revenue Continue to Increase to Record at ฿6.4bn!

GULF reports revenue from sales in 1Q19 at THB 6,476.6 million, an increase of THB 1,283.9 million or 24.7% QoQ.

Gulf Energy Development Public Company Limited (GULF) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

GULF reports revenue from sales in 1Q19 at THB 6,476.6 million, an increase of THB 1,283.9 million or 24.7% QoQ from commencement of commercial operation of GNLL2 and GNPM in January 2019 and March 2019, respectively, in addition to the greater amount of electricity and steam sold.
Compared to 1Q18, revenue from sales increased by THB 3,116.0 million or 92.7% YoY from the revenue recognition of ten SPPs under the GMP group which gradually commenced commercial operation between 2017 and 1Q19 as opposed to revenue recognition of only six SPPs in 1Q18. Furthermore, the volume of electricity and steam sold also increased.

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