A lot of information was forthrightly shared by the Board of Directors of PetroVietnam Fertilizer and Chemicals Corporation – a joint stock company (HOSE: DPM) at the investor meeting in the afternoon of June 21 in HCMC. Particularly, business result in the first 6 months of 2018 was estimated to reach a revenue of VND4,915 billion dongs and pre-tax profit of VND430 billion dongs, accomplishing 97% of yearly targets.
If VATis applied for fertilizers , each year, there will be a cost saving of VND350-400 billion dongs.
Explaining the reasons for the decrease in business performance in 2016 and 2017 over the previous years, Mr. Doan Van Nhuom, President & CEO of PVFCCo, said that gas price for Phu My Fertilizer production was set at 46% of average FO fuel price in Singaporean market plus tariff. Particularly, in 2014, gas cost that DPM had to pay was VND3,001 billion dongs; this was reduced to VND1,848 billion dongs in 2015 and further decreased to VND1,657 billion dongs in 2016, but increased to VND2,082 billion dongs in 2017.
