Petrolimex to earn more than a trillion dong in Q1/2017
Nguyen Le
May 22, 2017 | 04:09 PM GMT+7
Petrolimex's revenue increased sharply as crude oil price rose 54% over the same period last year.
Petrolimex's revenue increases own to world rising crude oil (Photo: Internet)
According to the Petrolimex report, in Q1/2017, total consolidated net revenues (of Petrolimex subsidiaries in all business sectors: petroleum, gas, lubricants, petroleum transportation, engineering, construction, insurance) stood at 35,801 billion dong, up 30% yoy.
The average of world crude oil price (WTI) in Q1/ 2017 was 51.78 per barrel, up 54% over the same period in 2016 (33.63 USD /per barrel), leading to higher revenue for Petrolimex.
Petrolimex earned total consolidated pre-tax profit of 1,350 billion dong, gaining 28.8% of the plan and 98.4% compared to that of the same period last year. In which, pre-tax profit from petroleum was 755 billion dong, accounting for 55.9% of total consolidated profit.
Petrolimex’s other business activities generated pre-tax profit of 595 billion dong, equivalent to 44.1%.
Particularly, profits in other fields of Petrolimex are as follows:
- Sales of petrochemicals, bitumen, chemicals reached 224 billion dong;
- Gas sales contributed 45 billion dong;
- Revenue from ocean transport, inland waterway transport and inland transport made up 53 billion dong;
- Revenue of aviation fuel reached 83 billion dong;
- Insurance and banking business activities reached 57 billion dong;
- Warehouse business activities gained 57 billion dong;
- The revenue from two companies in foreign countries reached 15 billion dong;
- Other fields such as construction, mechanics, infrastructure, informatics, import-export added 61 billion dong.
Petrolimex shares (PLX) have currently been listed on the Ho Chi Minh Stock Exchange since April 21, 2017. PLX's trading price was 46,900 dong on May 9, 2017.
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