PVD: Explanation for business result in Q3/2012 (Parent company)

Petrovietnam Drilling and Well Services Joint Stock Company (PV DRILLING) explains financial statements of the Parent company and the consolidated financial statements in Quarter 3/2012 as follows:

-         In Quarter 3/2012, the profit after tax of the parent company was VND422.5 billion increasing 53.7% compared to VND274.8 billion in the same period of 2011; the consolidated profit after tax was VND491.7 billion increasing 56.1% compared to VND315 billion in Quarter 2/2011.

-         Reasons of the growth is that PV Drilling signed a new contract for land rig (PV Drilling 11) which has operated from late November 2011, and put TAD rig (PV Drilling V) into operation from mid-February 2012, as well as recorded profits from joint venture Baker Hughes in Quarter 3/2012. Besides, services relating to mechanical repair, manpower supply and trading had higher profits than the same period of 2011.       

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