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Bangkok Post
Bangkok Post
Business

UNBELIEVABLE: Gulf core profit gains 36 in q1 | History Defined

SET-listed Gulf Energy Development recorded a core profit of 3.25 billion baht in the first quarter of 2022, a rise of 36% from the previous year.

The company's total first-quarter revenue tallied 22.4 billion baht, an increase of 125% year-on-year.

According to the firm, the growth came from the first and second units of its subsidiary Gulf SRC Co (GSRC), together with higher profit from the Borkum Riffgrund 2 (BKR2) offshore wind power project in Germany -- despite the German government's curtailment -- as well as profit from shares of InTouch Holdings Plc worth 1.1 billion baht.

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