Friday, April 26, 2019 6:52:52 AM - Markets open
VN-INDEX 974.13 -2.79/-0.29%
HNX-INDEX 106.93 -0.21/-0.19%
UPCOM-INDEX 56.08 +0.03/+0.05%
Petrolimex reports 172% rise in profits
Source: VNS - 8/18/2015 1:46:20 PM
 (0 ratings. You must sign in to rate.)
Despite a loss in revenue, the Viet Nam National Petroleum Group (Petrolimex) reported after-tax profits of VND1.125 trillion (US$50.8 million) in the second quarter, an increase of 172 per cent over the same period last year.

The group released its consolidated financial statement on August 15, saying that it had reached VND 43.565 trillion ($1.97 billion) in net revenue, down 22 per cent compared to the same period last year.

However, it said the cost reduction had helped it gain better after-tax profits for the second quarter.

Similarly, though sales in the first half of the year were VND81 trillion ($3.66 billion), falling 20 per cent over the same period, the after-tax profits reached VND1.586 trillion ($71.7 million), as much as 137 per cent higher than in the same period last year.

The group recorded VND124 billion ($5.6 million) in after-tax profits, and its joint ventures and affiliates, as much as an increase of 33 per cent over the same period last year.

The report said the group's financial costs had risen by 54 per cent, and the cost of sales and administration expenses had slightly increased by 1 and 8 per cent, respectively.

The group has charter capital of VND10.7 trillion ($484 billion) and 1.07 billion shares traded in the over-the-counter market.

Established in 1996, Petrolimex is one of 19 wholesale fuel traders in the country. With 27 joint ventures and affiliates, it now holds nearly 50 per cent of the retail market.

Petrol prices this year have risen four times and fallen five times. The price of one litre of the most popular fuel, petrol RON 92, is VND1,420($0.06) higher than the price at the end of 2014.
Newer News
25/04 CPTPP smooths path to Canadian market for Vietnamese goods
24/04 Global economic integration helps Vietnam expand agri-products markets
23/04 Agro-forestry-fishery exports fetch 12.4 billion USD in four months
22/04 HCM City’s industrial production index hits five-year high
21/04 Fuel price hikes create pressure but CPI under control
18/04 Petrol prices continue to scale up in latest review
17/04 EU remains top market of Vietnamese shrimp
16/04 Vietnam’s exports to CPTPP countries set to surge
13/04 Forum seeks ways to improve trade promotion measures
12/04 Banking system crucial to economy: official
Older News
17/08 State-owned groups speed up equitisation
17/08 EVN loses hold of local power market
17/08 VN coffee growers near bankruptcy
14/08 Customs red tape costs Vietnamese traders $10 billion a year: expert
12/08 Fitch Ratings: EVFTA brings benefits for VN
12/08 Rice exports hit US$1.4 billion
12/08 Nearly 1 in 3 companies in Vietnam bribe tax officials: survey
11/08 Decree to guide enterprise law expected this month
11/08 Businesses in the dark on Trans Pacific Partnership
11/08 Consultants predict more investments next year
 
Newsletter Signup
Top Stories
Vinalines Logistics’ profit growth projected at least 10 percent
Shares move little as Tết approaches
Consumer price index slips 0.07 per cent during August
Average VND/USD exchange rate rises by another 1%
Vietnam doubles dong’s trading band after China devalues yuan
Market Update
Last updated at 3:11:47 PM
VN-INDEX 974.13 -2.79/-0.29%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.