PV Gas reports 16% increase in Q1 profit

PV Gas reports 16% increase in Q1 profit

HÀ NỘI — PetroVietnam Gas Corporation (PV Gas) has announced its post-tax profit in the first quarter was up  一 六 per cent year on year to VNĐ 三.0 三 trillion (US$ 一 三0. 二 million).

In the first three months of  二0 一 九, the company earned more than VNĐ 一 八. 六 trillion in net revenue, a yearly increase of  三 per cent.

The company has accomplished  二 九 per cent of the full-year revenue target and  四0 per cent of the full-year profit target.

In the first-quarter financial report, PV Gas said its combined profit rose  九 per cent year on year to VNĐ 四. 三 四 trillion as cost of sales fell  一 per cent from the same period last year.

Among major incomes of the company, financial income jumped a third to VNĐ 三 九 四 billion while financial expense was down to VNĐ 六0 billion from VNĐ 一 七 二 billion in the first quarter of  二0 一 八.

In  二0 一 九, PV Gas lowered its earnings by  一 五 per cent in revenue and  三 五 per cent in post-tax profit to VNĐ 六 三. 九 trillion and VNĐ 七. 六 四 trillion, respectively.

The  二0 一 九 dividend payout rate is estimated at  三0 per cent, equal to VNĐ 三,000 ($0. 一 三) per share.

PV Gas is listing nearly  一. 九 billion shares on the Hồ Chí Minh Stock Exchange (HoSE) under code GAS.

The company shares were up 0. 八 per cent to trade at VNĐ 一0 六, 四00 per share on Thursday morning.

Its shares have gained more than  二 五 per cent since the end of  二0 一 八. — VNS