DNVN - Ho Chi Minh City Stock Exchange (HoSE) has just announced to maintain the warning status for PIT stock of Petrolimex Import-Export Joint Stock Company (PITCO).
The reason why PIT shares of Petrolimex Import-Export Joint Stock Company (PITCO) have not "escaped" the warning status is because PITCO's undistributed profit after tax as of June 30, 2024 is negative VND 27.47 billion, based on the audited consolidated financial statements for the first half of 2024. In addition, PIT shares have not met the regulations at Point b, Clause 4, Article 37 of the Regulations on listing and trading of listed securities.
PIT shares are under warning because the accumulated loss balance as of December 21, 2023 is negative VND 30.1 billion. To overcome the situation of the securities being warned, on July 23, 2024, in the announcement explaining and reporting the situation of overcoming the situation of the securities being warned, PITCO said that it will gradually reduce the accumulated loss through profitable quarterly business results.
Regarding business results, the parent company's financial report shows that net revenue from sales and service provision in the first 6 months of 2024 reached VND 370.9 billion, an increase of VND 101 billion over the same period last year.
PITCO's undistributed profit after tax as of June 30, 2024 is negative VND 27.47 billion.
Accordingly, PITCO brought in after-tax profit of VND 2.6 billion, an increase of VND 2.5 billion - equivalent to an increase of 2141% over the same period in 2023.
Meanwhile, according to the consolidated financial report of the company, net revenue from sales and service provision in the first half of this year was VND427.8 billion, up 40% over the same period last year. Profit after tax reached VND2.7 billion, up VND2.5 billion over the same period in 2023, equivalent to an increase of 1,578%.
PITCO explained that revenue in the first 6 months of the year increased by 101 billion VND in the parent company's report, equivalent to 37.6%, and increased by 122 billion VND, equivalent to 40% in the consolidated report compared to the same period in 2023. The reason for the increase in revenue is that the world economic situation has stabilized, causing high demand and pepper prices to increase sharply compared to 2023, causing profits to increase by 1,578% (consolidated report) compared to the same period in 2023.
PITCO, formerly known as Petrolimex General Import-Export Company, was established in 1999 and is a member of the Vietnam National Petroleum Group (PETROLIMEX). PITCO operates in the import-export business with main export items being: pepper, natural rubber, tin ingots and antimony ingots. Main import items: iron and steel, chemicals, plastic beads (accounting for 40% of Vietnam's mineral export market share)...
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/co-phieu-pit-cua-xuat-nhap-khau-petrolimex-van-trong-dien-canh-bao/20240904094824902
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