PGS’s liquefied gas revenue increases by 25pct year-on-year

06-Aug-2012 Intellasia | VOV/HNX | 1:49 PM

PetroVietnam Southern Gas JSC (coded PGS) announced its consolidated financial statements for Q2/2012.

PGS’s revenue in Q2/2012 was 1.543 trillion dong, up 5 percent compared with Q1/2011. Revenue from liquefied gas reached 1.163 trillion dong, accounting for 75.4 percent total revenue and up 232 billion dong equal to 25 percent year-on-year.

Revenue from compressed natural gas (CNG) reached 344.4 billion dong, up 35%. Around 58 percent total PGS’s revenue was from HCM City area.

CNG’s entrance price was up 30 percent compared with the same period in 2011 and CNG’s depreciation cost also saw a double increase. PGS’s consolidated revenue decreased by 28.4%.

PGS reached nearly 35 billion dong of profit in Q2/2012.

Cumulatively in the first six months, PGS reached 3.306 trillion dong of total revenue, up 25 percent year-on-year. Consolidated profit was 398.4 billion dong, down 12.4 percent compared with H1/2011. Its profit after tax was 44 billion dong, down 69%.

PGS has completed 54.6 percent revenue plan and 45.5 percent of pre tax profit plan in 2012.