A vessel of PVT Logistics. —Photo pvtrans.com

 

The Ho Chi Minh Stock Exchange (HOSE) on November 20 said that it officially received PVT Logistics’ application to list over 66 million shares. 

 

Earlier in the third quarter (Q3) of 2024, the company successfully raised VNĐ230.09 billion (over US$9 million) by issuing over 23 million shares to the public. This issuance increased the company’s charter capital to VNĐ660.96 billion, positioning the firm for strategic growth opportunities.

 

Post-issuance, the company’s shareholder structure became well-defined: PVTrans 51.87 per cent, Tân Long Co., Ltd. 22.82 per cent and minor shareholders (holding less than 5 per cent) 25.31 per cent.

 

In Q3/2024, PVT Logistics reported VNĐ321.2 billion in revenue, a modest four per cent increase year-over-year. However, the standout achievement was its profit after tax, which surged by 811 per cent to VNĐ166.89 billion. 

 

The company said that key drivers of this growth included fleet expansion and efficiency. The addition of PVT Topaz and bareboat-chartered vessel PVT Pearl significantly boosted revenue.

 

Meanwhile, financial income increased by 132.1 per cent, while financial expenses dropped by nearly 50 per cent.

 

The sale of ageing vessels and improved fleet operations also enhanced gross profit margins by 57.2 per cent, reaching VNĐ70.64 billion.

 

For the first nine months of 2024, PVT Logistics achieved cumulative revenue of over VNĐ1 trillion, up 52 per cent from last year and profit after tax of VNĐ223.15 billion, surpassing its full-year profit target by 248.7 per cent. — VNS

 

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