PVR posts low profits in Q4

The HCM City-listed PetroVietnam Premier Recreation Company (HNX: PVR) posted VND11.8 billion (US$561.9 million) gain in net profit in the fourth quarter of 2010, which helped raise total annual profit to VND25 billion ($1.2 million).

The annual profit was four times higher than the 2009 figure, but 41.9 per cent lower than the year's target.

The majority of the company's revenue was from financial activities, which generated VND24 billion ($1.1 million), a sharp increase from VND584 million ($27,809) in 2009.

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