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PetroVietnam Finance 9-month profit exceeds full-year target   2009-10-13 - Bloomberg

PetroVietnam Finance Co., a unit of Vietnam Oil & Gas Group, said pretax profit exceeded its full- year target in the January-September period as the stock market rebound boosted its equity investments.


Pretax earnings reached VND762 billion (US$42.7 million) in the nine months to end-September, equal to 191 percent of the company’s full-year target, it said in an e-mailed statement Tuesday.

Revenue was about VND4 trillion, equivalent to about 103 percent of its full-year target.

Hanoi-based PetroVietnam Finance now expects pretax profit and revenue to reach VND1 trillion and VND5 trillion respectively this year, according to the statement.

The company also said it aims to list shares on the Singapore Stock Exchange in 2010. It didn’t give a timeframe.

Vietnam’s benchmark VN-Index, a measure of 175 companies on the Ho Chi Minh Stock Exchange, has more than doubled since reaching a four-year low on February 24, according to data compiled by Bloomberg.

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