AsemconnectVietnam - At the Conference summarizing production and business activities in 2023, Petroleum General Services Joint Stock Company - Petrosetco (stock code PET - HOSE), PET said that profit in 2023 is estimated to reach VND180 billion.

Mr. Vu Tien Duong, General Director of PET, said that in the general situation of nearly all distribution, retail and service provision businesses, PET's main areas of operation have also been greatly affected by the Input raw material prices are raising and market demand is falling sharply, in parallel with increasingly fierce competition.
Among PET's four core service areas, real estate management service revenue is estimated at VND759 billion, equal to 125% of the year's plan and 150% over the same period; Life service segment is estimated at VND1,017 billion, reaching 101% of the year's plan and equal to 109% over the same period; The distribution service segment is estimated to reach VND15,198 billion, equivalent to the same period and approximately completing the 2023 plan.
As for the material supply and oil and gas logistics services segment, Mr. Duong assessed that although the results were not as expected, they increased the number of signed contracts and expanded recognition.
Accordingly, PET's estimated profit in 2023 will reach VND180 billion, the ratio of profit after tax to equity will be approximately 15%.
In another development, recently, stock trading activities have been relatively bustling at PET. In particular, Mr. Phung Tuan Ha, Chairman of the Board of Directors of PET, sold 2 million shares from November 24 to December 5, thereby reducing the number of shares to 3.26 million shares, a ratio of 3. 04%.
In addition, Mr. Cao Truong Son, PET's major shareholder, also sold 250,000 shares to reduce his ownership to 5.19 million shares, a ratio of 4.87% and is no longer a shareholder of PET. The date to change the rate is December 1. The PET union also sold all nearly 1.6 million PET shares it owned, equivalent to 1.46% of capital, from November 24 to December 1.
N.Nga
Source: VITIC/Tinnhanhchungkhoan