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Tuesday, June 18, 2024

PVTrans achieves nearly half of annual profit target in Jan-Apr

The Saigon Times

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HCMC – PetroVietnam Transportation Corporation (PVTrans) has translated 48% of its 2024 profit target into reality, with its pretax-profit reaching an estimated VND460 billion in January-April.

At a recent meeting with Vietnam Oil and Gas Group, Pham Viet Anh, PVTrans chairman, said the company’s consolidated revenue in the first four months exceeded the plan by 19% and obtained 38% of the yearly target, reaching VND3.35 trillion. Its pre-tax profit was 53% above the four-month plan.

At its 2024 annual general meeting of shareholders, PVTrans detailed plans to optimize vessel operations to ensure timely and safe transport of crude oil and gas products for refineries including Dung Quat and Nghi Son.

PVTrans has added 27 vessels to its fleet, including 18 purchased and nine leased with purchase options. The fleet now totals 52 vessels with a combined capacity of over 1.4 million deadweight tonnage (DWT).

Closing the trading session today, May 20, its PVT shares edged down by 1.69% to VND29,150 per share, with a trading volume of nearly 7.5 million shares on the Hochiminh Stock Exchange.

With 264 winners and 174 losers, Vietnam’s stock benchmark VN-Index added 4.47 points, or 0.35%, to close at 1,277.58 points today, driven by strong trading volumes and gains of key stocks.

Total trading volume on the southern exchange exceeded 1.16 billion shares valued at VND27.68 trillion, up 23.8% in volume and 19.96% in value over the previous session.

Block deals contributed over 203.9 million shares worth nearly VND4.3 trillion. Bank stocks led these transactions, with VPB trading nearly 43.7 million shares worth over VND853.8 billion. LPB and SHB followed, with LPB trading 37.9 million shares and SHB trading 37.58 million shares.

The VN30-index of the VN30 basket, which groups the 30 largest-cap stocks, gained slightly, closing just over two points higher to 1,312.55 points.

BCM soared to its ceiling price of VND62,900 per share, with more than 2 million shares traded.

Other notable gainers included BVH, rising 3.7%, HDB up 2.3%, and VPB increasing by 2.1%. HPG and MSN also gained over 1.2%. On the other hand, VJC was the biggest decliner, falling 2.4%, while FPT dropped 1.1%.

Mid and small-cap stocks saw heavy trading, with each of EVF, EIB, HAG, VIX, TCH and BCG trading tens of millions of shares. The insurance sector outperformed, with BVH, MIG and BIC hitting their ceiling prices. BMI closed up 5.5%.

HPG shares of steel manufacturer Hoa Phat Group took the lead by liquidity today, with nearly 46.5 million shares changing hands.

The HNX-Index of the Hanoi Stock Exchange rose 1.03 points, or 0.42%, to 242.57 points, with 103 gainers and 91 decliners. Total trading volume on the northern bourse surpassed 100 million shares, valued at nearly VND1.92 trillion.

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