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PVF: Business result of the first six months
PetroVietnam Finance Joint Stock Corporation (PVF: PVFC) has announced the business result in the first 6 months of 2009 as follows:
1. After deducting for a credit and investment provisions, profit before tax was VND451 billion, reached 112.82% compared with the plan.
2. Sales reached VND2,669 billion, equivalent to 68.45% compared with the year.
Up to June 30, 2009,
* Total assets : VND52,360 billion
* Owner’s equity : VND6,441 billion
* Total loan balance : VND23,637 billion
* Investment value : VND9,800 billion
* Market capitalization : Over VND20,100 billion
(One in top of 03 enterprises which have the largest market capital on HOSE and in top 04 enterprises which have the largest market capital on whole market)
In the last 06 months of 2009, PVFC continually implements:
* Reaching minimum turnover of VND5,000 billion and after deducting for a credit and investment provisions, profit before tax of VND1,000 billion in 2009. The company is trying to achieve the total 2009 turnover by VND3,900 billion in quarter 3/2009.
* Speeding up restructuring portfolios to get more profit from investments (Investment turnover in the last 06-month plan is VND500 billion).
*Speeding up listing PVFC shares on Singapore market.
*Speeding up arranging capital for projects of PetroVietnam and PetroVietnam’s subsidiaries (PVFC was assigned by PVN to arrange capital for PetroVietnam’s projects)
* Reaching over turnover of VND500 billion from service activities included CDM activities / trading of foreign currencies for PVN and its subsidiaries.
* Putting Core Banking System into operation in quarter 4/2009.
* Planning a dividend payment for the first stage in 2009 with a minimum rate equals to rate approved for whole 2009 year by shareholders’ meeting.
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