Vietnam National Petroleum Group (Petrolimex) has just released financial statements for the quarter II/2017 of the holding company and consolidated financial report of the group. The statement showed Petrolimex’s consolidated pretax profit of VND2,443 billion (equivalent to US$107 million) in the first six months of 2017, which is 52.2 per cent of its annual target.
The statement reported that in the first half of 2017, Petrolimex’s consolidated revenue of subsidiaries reached VND74.25 trillion (equivalent to US$326 million), a year-on-year rise of 26.4 per cent.
According to Petrolimex, its increasing revenue resulted mainly from the average price of the World crude oil (WTI) in the first half of 2017 being US$49.95 per barrel, up 25.6 per cent over the same period in 2016.
The profit of petroleum business contributed to VND1,180 billion (roughly US$51 million), accounting for 48.3 per cent of total consolidated profit.
The non-petroleum business contributed VND1,263 billion (approximately US$56 million) of pre-tax profit accounting for 51.70 per cent of total consolidated profit. Specifically, profits of petrochemical, asphalt and chemical business contributed VND440 billion (equivalent to US$19 million); Gas business brought a profit of VND98 billion (US$4.4 million);
Transportation and aviation fuel generated profits of VND 129 and 171 billion (roughly US$5.6 and 7.5 million) respectively; the Group’s benefits from insurance and banking business reached VND112 billion (approximately US$4.9 million); Profit generated from warehousing business was VND70 billion (US$3.1 million); The Group’s two subsidiaries abroad brought a profit of VND27 billion (over US$1.1 million); and profits from other sectors reached VND216 billion (equivalent to US$9.4 million).
