PV Gas achieves half of financial plan in the first half

July 08, 2021 | 16:54

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PetroVietnam Gas JSC (PV Gas, HSX: GAS) has just revealed its estimated business results in the first six months of 2021 with financial indicators increasing from 3 to 12 per cent over the same period in 2020.

PV Gas achieves half of financial plan in the first half

PV Gas has maintained steady business performance despite the impacts of the pandemic

Accordingly, the total revenue of PV Gas in the first half is estimated at VND37.5 trillion ($1.63 billion), up 12 per cent over the same period in 2020. After-tax profit is estimated at VND4.3 trillion ($186.96 million), up slightly by 3 per cent.

In the first six months, gas input, production, and the supply of dry gas and condensate fell short of the plan due to low demand for gas for power production and upstream problems.

However, PV Gas' liquefied petroleum gas (LPG) output exceeded the plan by 28 per cent. The company produced and supplied 1 million tonnes of LPG, an increase of 12 per cent on-year. This accounted for about 70 per cent of the wholesale market and about 11 per cent of the nationwide retail market (excluding Gas South).

The total disbursement of construction investment in the first six months reached VND3.3 trillion ($143.48 million). Of this, the parent company disbursed VND2.9 trillion ($126.1 million). According to PV Gas, excluding the Block B-O Mon gas pipeline project, the parent company disbursed 136 per cent of the 6-month plan.

PV Gas set a revenue target of VND70.2 trillion ($3 billion) for 2021, with after-tax profit of VND7 trillion ($304.35 million), up 6.9 and down 11.7 per cent compared to 2020, respectively.

In the first half, PV Gas has completed 53 per cent of its revenue and 61 per cent of its profit plan.

GAS shares closed the July 7 session at VND91,500 ($3.98), resulting in an estimated market capitalisation of more than VND175 trillion ($7.6 billion).

By Trúc Anh

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