PET gains 119.3b dong profit after tax

VNStockNews.com - PetroVietnam general Service Joint Stock Corp (coded PET) recently reported gaining over 2.023 trillion dong of revenue in Q4, up over 300 billion dong against previous quarter and marking the highest level during last year.

However, due to sales expenditures and management costs increased strongly, the company's profit decreased to only 9.7 billion dong, down 35.5 billion dong against Q3.

Totally in 2009, PET earned nearly 7.5 trillion dong of revenue, increasing 42 percent against 2008's figure.

The company's combined profit from business activities was 584 billion dong, up 200 billion dong year-on-year.

PET's pre tax profit was 149.2 billion dong, up 6 percent year-on-year and 119.3 billion dong of profit after tax with EPS of 2,461 dong.

In 2008, the company enjoyed an exemption of Corporate Income Tax (CIT).