PLX- Profit Slumped This Year From A High Base Set In 2016; Balance Sheet Deteriorated

■ PLX’s 4Q17 net revenue surged by 23.3% mainly due to the increase of petroleum output (+5.0% yoy) and the rise in global crude oil prices (+17.4% yoy).
■ Interest expenses in 4Q17 increased by 57.1% yoy and 37.5% qoq, due to a sharp increase in short-term debt in this period.
■ PLX also witnessed a significant increase in its inventories in the second half of this year