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PGC: Explanation for business result in Q3-2008
Petrolimex Gas Joint Stock Company has given explanation to earnings rise in the third quarter against the second quarter of 2008 as follows:
|
No. |
Items |
QIII/08 |
QII/08 |
Difference
( QIII – QII ) |
|
1 |
Profit of sales and services |
7,895,902,860 |
12,671,559,345 |
-4,775,656,485 |
|
2 |
Financial profit |
722,216,815 |
-8,741,316,281 |
9,436,533,096 |
|
|
include: foreign exchange difference |
151,095,061 |
-8,048,202,287 |
8,199,297,348 |
|
3 |
Profit in joint venture |
243,268,577 |
456,654,224 |
-213,385,647 |
|
4 |
Other profit |
403,941,164 |
1,646,717,064 |
-1,242,775,900 |
|
|
Profit before tax: |
9,265,329,416 |
6,033,614,352 |
3,231,715,064 |
- Profit before tax in Q3/2008 rose VND3.23 billion (equal to 53.4%) compared to Q2/2008 due to the following reasons:
+ Profit of sales and services fell by 38% - equivalent to VND4.775 billon in Q3 against Q2, Due to impact of the global financial crisis on price of oil, fuel gas, there was damage to change in price of inventories.
+ Financial profit rose VND9.4 billion in Q3 compared with Q2/2008 because of change in foreign exchange. Meanwhile, the fluctuation of foreign exchange has also impacted on the company’s import goods.
HoSE
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