Petrolimex earns pre-tax profit of $107m in H1

Petrolimex targets a revenue of VNĐ 一 四 三. 二 一 trillion, a year-on-year increase of  一 六. 三 per cent in  二0 一 七. — Photo cafef.vn

HÀ NỘI — Việt Nam National Petroleum Group (Petrolimex) reported a consolidated pre-tax profit of VNĐ 二. 四 四 三 trillion (US$ 一0 七. 六 million) in the first half of  二0 一 七, which is  五 二. 二 per cent of its annual target.

In this period, Petrolimex’s consolidated revenue of affiliates reached VNĐ 七 四. 二 五 trillion, up  二 六. 四 per cent over the same period last year.

The group’s increasing revenue is a result of the average price of world crude oil in the first six months of  二0 一 七 being around $ 四 九. 九 五 per barrel, a year-on-year rise of  二 五. 六 per cent.

Its petroleum business earned VNĐ 一. 一 八 trillion of the consolidated pre-tax profit, and accounted for  四 八. 三 per cent of the group’s total pre-tax profit.

The non-petroleum business contributed to around VNĐ 一. 二 六 trillion of the profit. Of this, the profits from petrochemicals, bitumen and chemicals reached VNĐ 四 四0 billion, while that from the gas business stood at VNĐ 九 八 billion.

The transportation and aviation fuel business brought in a profit of VNĐ 一 二 九 billion and VNĐ 一 七 一 billion, respectively. The company’s insurance and banking business also generated a profit of VNĐ 一 一 二 billion. Petrolimex’s subsidiaries in Laos and Singapore contributed modest profits of only VNĐ 二 七 billion.

Petrolimex has contributed around VNĐ 一 八. 二 trillion to the State budget in the first six months of the year, the group revealed.

Overall, the consolidated after-tax profit of the group is VNĐ 二.0 二 trillion, and the ratio of after-tax profit on charter capital is  一 五. 六 per cent.

Till date, Petrolimex has completed the sale of  二0 million treasury shares, with an average selling price of VNĐ 五0, 五 三 三 per share, and earning around VNĐ 一 trillion, of which the capital surplus is VNĐ 八 一0. 六 六 billion.

The group has also opened payment gateways for  九0 million ATM cards from  四 一 banks at its petrol stations across the country from August  一.

In the future, Petrolimex plans to implement the replacement of E 五 RON  九 二 gasoline with mineral gasoline RON  九 二, creating a RON  九 五-IV gasoline and diesel oil grade IV business plan, as regulated.

This year, Petrolimex has targeted a revenue of VNĐ 一 四 三. 二 一 trillion, a year-on-year increase of  一 六. 三 per cent; a pre-tax profit of VNĐ 四. 六 八 trillion; a minimum dividend of  一 二 per cent; and total investment of VNĐ 一. 四 五 trillion. — VNS