Petrolimex’s post-tax profit down 16%

Home >> Daily News >>Vietnam>>Energy>>Petrolimex’s post-tax profit down 16%

NEWS UPDATES

Asean Affairs November 6, 2017

Petrolimex’s post-tax profit down 16%

Viet Nam National Petroleum Group (Petrolimex) reported a post-tax profit of VN?895 billion (US$39.3 million) in the third quarter of this year, 16 per cent less, year-on-year.

Deputy General Director of Petrolimex, Tran Ngoc Nam, attributed the decline to the reduction in post-tax profit of Castrol BP Petco, a lubricant and grease marketing and production joint venture between BP and Petrolimex, during the period.

As a result, the prorated post-tax profit that Petrolimex received from Petco reduced by 25 per cent, compared to the same period last year.

The group’s business performance was also affected by other factors such as rising social insurance costs and outsourcing costs.

According to the company’s financial report, Petrolimex earned VN?38.3 trillion in revenue during the third quarter, up 31 per cent year-on-year.

In the first nine months of this year, the total revenue of Petrolimex reached VND112.4 trillion, up 27.7 per cent over the same period of last year, mainly due to the 5 per cent increase in global crude oil’s average over the same period of 2016.

Petrolimex post-tax profit during nine months was VND2.9 trillion, down 13 per cent year-on-year.

In the period, the petroleum business activities brought the highest profit for the group with VN?1.8 trillion, accounting for over 51 per cent of the total profit, while profit earned by non-petroleum business activities totaled VND1.7 trillion.

Reach Southeast Asia! 10- Nations, 560- Million Consumers And $1 -Trillion Market
We are the Voice of Southeast Asia	*Media Kit*
The only Media Dedicated to Southeast Asia	*Advertising Rates for Magazine*
	*Online Ad Rates*
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to your.views@aseanaffairs.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

or
submit your comment in the box below

Today's Stories November 6, 2017

• MSME loans get lower risk weighting

• Subcribe: Asean Affairs Global Magazine

• Petrolimex’s post-tax profit down 16% Nov 6

Subsribe Now !

• Globe Telecom posts P4.9-B net income in Q3, up 78%

	Research Reports on Thailand 2007-2008
	• Textiles and Garments Industry • Coffee industry • Leather and footwear industry • Shrimp industry

• State treasury raises $133.3 million from bond auction

• Singapore, China securities regulators to strengthen ties

Asean Analysis October 27, 2017
• Asean Analysis October 27, 2017
Southeast Asia from Scott Circle: Indonesian Presidential Politics Begins to Heat Up 18 Months before Elections

• Advertise Your Brand

Asean Stock Watch November 3, 2017

• Asean Stock Watch-November 3, 2017

The Biweekly Update
• The Biweekly Update October 27, 2017

ASEAN NEWS UPDATES Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Name

Email

1. Verifier