Petrolimex records increased pre-tax profit in H1
The Vietnam National Petroleum Group (Petrolimex) posted a consolidated pre-tax profit of 3.06 trillion VND (over 131.6 million USD) in the first half of 2019, up 8 percent year on year.
Motorcylists wait for their vehicles to be refilled at a gas station of Petrolimex (Photo: VNA)Hanoi (VNA) – The Vietnam National Petroleum Group (Petrolimex) posted a consolidated pre-tax profit of 3.06 trillion VND (over 131.6 million USD) in the first half of 2019, up 8 percent year on year.
The profit is equivalent to 58 percent of the target set for this year, according to the group’s financial report recently submitted to the State Securities Commission of Vietnam.
Of the figure, nearly 1.63 trillion VND or 53 percent came from petroleum business activities.
In the reviewed period, the consolidated post-tax profit is 2.545 trillion VND. Meanwhile, the firm gained almost 91.7 trillion VND in consolidated net revenue, down 5 percent from the same period last year.
Petrolimex attributed its decline mainly to the year-on-year fall of 12 percent in global crude oil prices to 54.9 USD per barrel on average in the six months.
As a result, its contribution to the State budget also dropped 3 percent to 21.35 trillion VND, the firm said. -VNA
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