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PV GAS earns after-tax profit of over VND6 trillion in H1

The Saigon Times

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HCMC – PetroVietnam Gas Joint Stock Corporation (PV GAS), which trades its GAS shares on the Hochiminh Stock Exchange, made revenue of an estimated VND45.1 trillion and after-tax profit of over VND6 trillion in the first half of this year.

PV GAS’s revenue and after-tax profit were 17% and 83% higher than the six-month period’s plan, respectively, according to the recent update on the business results for the first six months of the year.

Accordingly, PV GAS expected that it would obtain total revenue of nearly VND89.5 trillion and after-tax profit of VND10 trillion in 2023.

At the annual general meeting held on May 25, 2023, PV GAS shareholders approved the 2023 business plan, which set a revenue target of VND76.4 trillion, down 24%, and an after-tax profit goal of VND6.5 trillion, down 56% compared to 2022.

In the first half of the year, PV GAS has achieved 59% of the full-year revenue target and over 92% of the after-tax profit target.

At the close of the trading session today, July 7, GAS shares increased by 0.8% to VND96,000 per share, with 672,500 shares changing hands.

Regarding the stock market, the VN-Index of the Hochiminh Stock Exchange added 11.85 points, or 1.05%, from the previous session to 1,138.07 points, with 267 winners and 133 losers.

Trade volume totaled 798.4 million shares worth VND16.6 trillion, up 13.32% and 11.3% in volume and value, respectively, against the previous day. Block deals contributed VND2.34 trillion with 84.57 million shares traded.

Lender VCB stole the spotlight in the market today as it witnessed a remarkable surge of 4.3% in its stock price, closing the trading session at VND105,000 per share. Vietcombank’s market capitalization reached nearly VND500 trillion, outplaying other banks.

Other lenders also saw increases in stock prices today. SHB and LPB have seen respective increases of 3.4% and 3.9% as they finalized the shareholder list in preparation for dividend distribution.

Retailer MWG surged by 5.3% to the highest price of the day at VND45,500 per share, with over 7.35 million shares traded.

VND continued to take the lead by liquidity, with over 49.68 million units changing hands. Its stock price decreased by 1.9% to VND17,700 per share at the close of the trading session.

On the Hanoi Stock Exchange, the HNX-Index added 0.74 points, or 0.33%, to 225.82 points, with 102 winners and 61 losers. The total trading volume reached 81.14 million shares, with a value of over VND1.36 trillion.

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