PVT targets net profit of 84b dong in 2012

In the annual general meeting (AGM) held on May 14, the shareholders of PetroVietnam Transportation Joint Stock Corp have approved the 2011 business results and worked out the 2012 year plan.

In details, PVT expects to gain whole year revenue of 4.115 trillion dong in 2012, down 8 percent against the previous year, however net profit is expected to double year-on-year to 84.1 billion dong.

In the meeting, the shareholders also passed the proposal, in which the company would supervise the Dung Quat Shipping Industrial Co for carrying out the shipbuilding of Aframax cargo carriers with loading capacity of 104,000 dwt and 105,000 dwt for PVT with total investment capital of 201.68 billion dong.

As for 2011 business results, PVT reported gaining total revenue of 4.475 trillion dong, net profit of 43.3 billion, increasing by 7 percent and 11 percent respectively against that of 2010.

Last year, apart from transporting the liquefied gas to serve for domestic markets and putting 5-6 ships into operation in international markets, PVT cooperated with other partners to participating in bidding session for providing FPSO for Lam Son JOC’s projects. PVT, together with Fred Olsen won the bids. Therefore, the company’s revenue from trading services increased by 48 percent year-on-year to 1.122 trillion dong.

 

Category: Business