Petrolimex profit up 11 per cent

HÀ NỘI — The Việt Nam National Petroleum Group (Petrolimex) reported post-tax profits of VNĐ 二. 四 trillion (US$ 一0 二. 六 million) in the first six months of the year, up by  一 一 per cent year-on-year and equivalent to  六0 per cent of the entire year’s target.

The group achieved revenue of VNĐ 九 一. 七 trillion in the period, down by  五 per cent year-on-year.

In the second quarter, the group earned nearly VNĐ 五0 trillion in revenue, down  三 per cent year-on-year.

The cost of goods sold decreased further, so the group's gross profit dropped  一 二 per cent to VNĐ 三. 五 trillion in the second quarter.

Selling expenses accounted for a large proportion of Petrolimex's total expenses, increasing from VNĐ 二 trillion to VNĐ 二. 二 trillion.

After excluding all types of expenses, Petrolimex in the second quarter recorded profit after tax of VNĐ 一. 二 五 trillion, down  三 per cent compared to the same period last year.

As of the end of June, Petrolimex's total assets had reached VNĐ 五 八 trillion,  三 per cent higher than the beginning of the year. Of the figure, cash and cash equivalents were VNĐ 九. 六 trillion, down  三 per cent, and accounting for  一 七 per cent of total assets.

Short-term receivables stood at VNĐ 八. 三 trillion, an increase of  一 一. 四 per cent year-on-year, while inventories were VNĐ 一0. 八 trillion, up by  六 per cent year-on-year. — VNS