PetroVietnam fertilizer expects pretax profit to drop

PetroVietnam Fertilizer and Chemical Joint-Stock Co., Vietnam’s biggest fertilizer producer, said it expects 2008 pretax profit to fall 9.9 percent to VND1.198 trillion (US$74 million) from VND1.33 trillion last year.

Total revenue will rise 12 percent this year to VND4.4 trillion from VND3.92 trillion, the company said in an e-mailed statement, without giving a reason.

Ho Chi Minh City based-PetroVietnam Fertilizer also plans to buy a 15 percent stake in the Dinh Vu Vinatex PetroVietnam fiber plant this year, the statement said.

Thanhnien

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