Friday, July 19 2019

VietNamNews

PV Gas reports 16% increase in Q1 profit

Update: April, 19/2019 - 16:35
PetroVietnam Gas Corporation posted a 16 per cent increase in post-tax profit for the first quarter of 2019, which reached VNĐ3.03 trillion. Photo pvgas.com.vn

HÀ NỘI — PetroVietnam Gas Corporation (PV Gas) has announced its post-tax profit in the first quarter was up 16 per cent year on year to VNĐ3.03 trillion (US$130.2 million).

In the first three months of 2019, the company earned more than VNĐ18.6 trillion in net revenue, a yearly increase of 3 per cent.

The company has accomplished 29 per cent of the full-year revenue target and 40 per cent of the full-year profit target.

In the first-quarter financial report, PV Gas said its combined profit rose 9 per cent year on year to VNĐ4.34 trillion as cost of sales fell 1 per cent from the same period last year.

Among major incomes of the company, financial income jumped a third to VNĐ394 billion while financial expense was down to VNĐ60 billion from VNĐ172 billion in the first quarter of 2018.

In 2019, PV Gas lowered its earnings by 15 per cent in revenue and 35 per cent in post-tax profit to VNĐ63.9 trillion and VNĐ7.64 trillion, respectively.

The 2019 dividend payout rate is estimated at 30 per cent, equal to VNĐ3,000 ($0.13) per share.

PV Gas is listing nearly 1.9 billion shares on the Hồ Chí Minh Stock Exchange (HoSE) under code GAS.

The company shares were up 0.8 per cent to trade at VNĐ106,400 per share on Thursday morning.

Its shares have gained more than 25 per cent since the end of 2018. — VNS

 

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