PVCFC announces 9-month business results

Monday, Oct 17, 2016 14:36

Fertiliser production chain at the PetroVietnam Ca Mau Fertiliser Joint Stock Company. — Photo cafef.vn

HA NOI (Biz Hub) — PetroVietnam Ca Mau Fertiliser Joint Stock Company (PVCFC) has posted revenue of VND3.4 trillion (US$152.5 million) in the first nine months of the year.

The figure represents a decrease of 12 per cent compared with the same period last year.

PVCFC General Director Bui Minh Tien said the company had achieved just 58 per cent of the target set for the year. He attributed the performance to common difficulties in the fertiliser market.

As of September 30, the company earned VND393 billion in before-tax profit, 16 per cent lower than the figure of the corresponding period.

In the third quarter alone, PVCFC generated revenue of VND1.1 trillion and before-tax profit of VND25 billion.

Seeing the nine-month business results, the company forecasts that the target of VND5.8 trillion in revenue and VND684 billion in before-tax profit will not be achievable. – VNS

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