Why did Petrolimex's profits drop sharply?

(NLDO)- South Korea's SK Group has completed the sale of 76 million MSN shares of Masan Group.

*CTG: Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank, stock code: CTG) recorded pre-tax profit in the third quarter of 2024 of VND 6,553 billion, up 35% over the same period; accumulated 9 months, the bank's profit reached VND 19,513 billion, up 12%.

*GVR: Vietnam Rubber Industry Group (stock code: GVR) reported pre-tax profit in the third quarter of 2024 increasing by 110%, reaching more than VND 1,300 billion.

*PLX: Vietnam National Petroleum Group (Petrolimex, stock code: PLX) recorded net revenue of more than VND 64,352 billion, down 11.17% over the same period; after deducting expenses, profit after corporate income tax according to the parent company's financial report reached nearly VND 208.5 billion, down 83.32%, consolidated profit after tax in the third quarter of 2024 reached nearly VND 130.5 billion, down 82.11%.

According to the explanation, the parent company's after-tax profit decreased because this quarter Petrolimex did not record financial operating profit from divestment of Petrolimex Joint Stock Commercial Bank (PG Bank) after completing the transfer of ownership of PG Bank shares to investors.

In addition, after-tax profit in Petrolimex's Consolidated Financial Statement for the third quarter of 2024 decreased mainly due to the sharp decline in world oil prices.

*MSN: Masan Group Corporation (stock code: MSN) announced that SK Investment Vina I Pte. Ltd. (SK Group) has successfully transferred 76 million shares of Masan Group through negotiation. After the transaction, SK Group's ownership ratio at MSN is 3.67% of charter capital and is therefore no longer a major shareholder at MSN. The buyer has not been disclosed.

*GTS: Saigon Traffic Construction Joint Stock Company (stock code: GTS) appointed Mr. Nguyen Hong Thai as Deputy General Director from December 1.

*VIB: Ho Chi Minh City Stock Exchange announced information about the removal of the transaction of selling 2.61 million VIB shares by Ms. Le Thi Hue - a person related to Mr. Dang Khac Vy, Chairman of the Board of Directors of Vietnam International Commercial Joint Stock Bank (stock code: VIB).

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*HVT: Viet Tri Chemical Joint Stock Company (stock code: HVT) appointed Mr. Chu Van Luu as Deputy General Director from November 2.

*CC1: Construction Corporation No. 1 (stock code: CC1) appointed Mr. Pham Le Hao as Deputy General Director from November 1.

Dividend payment:

*TLG: Thien Long Group Corporation (stock code: TLG) plans to issue nearly 7.86 million shares to pay dividends in 2023, with an exercise ratio of 10:1 (shareholders owning 10 shares will receive 1 new share). The last registration date for rights allocation is November 15.

*PAI: Petroleum Information Technology, Telecommunication and Automation Joint Stock Company (stock code: PAI) pays cash dividends at a rate of 9%. The ex-dividend date is November 19.

*HNF: Huu Nghi Food Joint Stock Company (stock code: HNF) pays cash dividends at a rate of 10%. The ex-dividend date is November 8.

*PVS: Vietnam Oil and Gas Technical Services Corporation (stock code: PVS) pays cash dividends at a rate of 7%. Record date is November 14.

*HGM: The Board of Directors of Ha Giang Mechanical and Mineral Joint Stock Company (stock code: HGM) has paid the first cash dividend in 2024 at a rate of 20%. The record date is November 13.

Source: https://nld.com.vn/chung-khoan-truoc-gio-giao-dich-4-11-vi-sao-loi-nhuan-petrolimex-giam-manh-196241103224007302.htm