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PVFCCo eyes pre-tax profit of VND2.7 trillion this year

The Saigon Times

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HCMC – PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), whose DPM shares are traded on the Hochiminh Stock Exchange, looks to obtain VND17.4 trillion in consolidated revenue and nearly VND2.7 trillion in pre-tax profit this year.

This modest plan was mapped out in the context business conditions for the fertilizer industry remained no longer favorable as it was before.

Earlier, PVFCCo at its extraordinary general meeting in late December said that its 2022 revenue reached nearly VND20 trillion and its and pre-tax profit totaled VND6.4 trillion, nearly double the figures in 2021.

For 2023, the company planned to use VND492 billion for reinvestment, including VND209 billion for construction works and around VND282 billion for purchasing assets and equipment.

PVFCCo, a subsidiary of the Vietnam National Oil and Gas Group, also looks to produce 1.07 million tons of fertilizer this year.

Closing the trading session today, January 27, DPM rose a slight 0.12% to VND42,300.

The local stock market wrapped up the first trading session of the lunar new year on an upbeat note.

With 275 advancers and 132 decliners, the benchmark VN-Index added 9.02 points, or 0.81% against the previous session at 1,117.1.

The southern bourse saw more than 617 million shares worth over VND11.7 trillion changing hands, down around 2% in volume and 5.3% in value over the session earlier. Shares traded in block deals contributed over VND728 billion to the overall value.

The VN30 basket saw 20 winners and eight losers. Among the good performers, brewery firm SAB rose 4%, while gas firm GAS, State-run rubber group GVR, and real estate developer VIC improved over 3% each. Besides, insurer BVH and retailer VRE inched up 2.2%.

Meanwhile, property developer PDR was the biggest loser in the basket, falling 3.2%. Lenders BID and CTG lost 2-3%.

On the northern bourse, the HNX-Index increased by a fractional 0.4% to close at 220.76, with 131 stocks rising and 52 others dipping.

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