Minh Tam
In the first half, the nation’s largest gas supplier gained over VND29.2 trillion in revenue, 9% above target. This positive result is attributed to higher-than-expected production and consumption.
In the period, PV Gas produced more than 5.16 billion cubic meters of dry gas, 17% higher than planned and 8% more than the same period last year. Its liquefied petroleum gas (LPG) output reached 467,700 tons, 2% above target.
In total, PV Gas launched some 589,300 tons of LPG into the market, with over 460,300 tons for local sale, securing market share of over 72%.
The firm achieved a pre-tax profit of more than VND7.7 trillion, 65% higher than its target for the first six months, up 28% year-on-year. Its six-month net profit is put at over VND6.2 trillion, 63% higher than targeted and up 27% over the same period last year.
PV Gas said its LPG sales had been considerably affected by the falling LPG price since January and reduced production at Dung Quat Oil Refinery.
However, thanks to stable operations of three other gas suppliers – Cuu Long, Nam Con Son and PM3-Ca Mau, as well as high gas demand of household users, PV Gas beat its targets for gas output and sales in the first six months.
Another gas company that has reported profit for the second quarter and the first six months is PetroVietnam Low Pressure Gas Distribution Joint Stock Company (PGD).
Its financial statement put its revenue at VND1.64 trillion in the second quarter, an increase of 1.48% over the same period last year. Its January-June revenue was nearly VND3.05 trillion, up 15% year-on-year.
Due to rising costs, PGD’s gross profit declined against the same period last year, at over VND158 billion last quarter and nearly VND281 billion in the first half.
Its after-tax profit totaled more than VND81.4 billion in the second quarter, down 71% from VND284.8 billion in the same period last year. The first six months saw its net profit slipping to VND142 billion from VND383 billion in the year-ago period.
Even so, this result is 11% higher than its target for the whole year, VND129.45 billion.
PGD ascribed the drop in its second-quarter and six-month profits to a 7.37% year-on-year pickup in the average gas buying price last quarter, which could not be offset by a 6.32% rise in the average selling price.
Its operation costs also surged against last year as the company started work on a project for low pressure gas supply to Tien Hai Industrial Park in Thai Binh.
Earlier, CNG Vietnam Joint Stock Company reported a profit of over 37.6 billion in the second quarter and VND66.1 billion in the first six months, up slightly year-on-year and reaching 54.8% of its target for the whole year (VND120.56 billion).
PetroVietnam Southern Gas Joint Stock Company has not published its financial statement yet, but asserted that its revenue and profit in the first six months exceeded the 2013 targets.
Đăng ký: VietNam News
