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DPM: Explanation for the fluctuation of business results in the first half Petrovietnam Fertilizer And Chemicals Corporation has explained the fluctuation in the consolidated financial statements in the first six months of 2020 compared to the same period of 2019 as follows:
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Item
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6 months of 2020
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6 months of 2019
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Increase (+)/
Decrease (-)
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Profit after tax of parent company
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383,983,863,420
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58,373,581,357
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325,610,282,063
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Consolidated profit after tax
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414,541,595,558
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89,910,047,986
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324,631,547,572
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The profit after tax of parent company and consolidated profit after tax in the first six months of 2020 were higher than ones in the same period of last year because of the followings:
- In the first six months of 2020, the Company’s production increased over the same period last year (Urea output increased by 60%) while during the first six months of 2019 the Company had to suspend for maintenance.
- In the first six months of 2020, oil price in the world sharply slipped. This made the average gas price the first half of 2020 decreased by 23% compared to the first half of 2019. As the price of gas, the main input material of Urea, went down, the cost of Urea fertilizer in the first six months of 2020 decreased accordingly. HOSE
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