PetroVietnam Fertilizer forecasts 10% profits fall

08 April 2008 11:14  [Source: ICIS news]

SINGAPORE (ICIS news)--PetroVietnam Fertilizer and Chemical has forecast a 10.5% fall in its full-year pre-tax profits for 2008 to Vietnamese dong (D) 1,190bn ($73.8m) from D1,330bn in 2007, a company source said on Tuesday.

The company highlighted factors such as high oil prices and the depreciating American dollar as challenges for 2008.

The firm, also known as DPM, expected a 12.2% jump in total revenues to D4,400bn year on year, from D3,920bn.

In October 2007, the firm listed some 130m shares on the Ho Chi Minh Stock Exchange. It also planned to invest more than $2.5bn on capacity expansion and chemical plant construction projects by 2015.

($1 = D16,109)

By: Serene Cheong
+65 6780 4359

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 4 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly