AsemconnectVietnam - Southern Gas Trading Joint Stock Company (Gas South, stock code PGS - HNX) has just announced its expected business plan for 2024 with the target of pre-tax profit decreasing by more than 22% compared to the estimate for 2023.

Regarding estimated business results in 2023, Gas South said LPG liquefied gas output is 208,118 tons; Petroleum output reached more than 4.28 million liters and CNG compressed gas output reached more than 121.5 million sm3. Accordingly, PGS estimates total revenue to reach VND6,030.5 billion; down about 12% over the same period in 2022, but pre-tax profit increased approximately 17%, reaching about VND145.03 billion.
At the 2023 Annual General Meeting of Shareholders, Gas South approved the 2023 business plan with total revenue reaching VND6,561 billion, expected pre-tax profit of VND102.35 billion. Thus, with this estimated result, the Company has completed approximately 92% of its revenue target and exceeded 41.7% of its yearly profit target.
In 2024, Gas South targets liquefied gas output to reach 211,789 tons, a slight increase compared to 2023 performance; Petroleum output reached 4.39 million liters, an increase of 2.48% and CNG compressed air output reached 127.6 million sm3, an increase of 5%. Accordingly, the Company expects total revenue to reach VND6,436.57 billion, an increase of 6.7% compared to 2023; Pre-tax profit decreased by more than 22%, to VND112.74 billion.
On the stock market, in the first trading session of 2024, PGS closed at the reference price of 27,700 VND/share. But overall for the whole year 2023, PGS recorded an increase of 15.72%; Stock liquidity is relatively gloomy, the session with the highest trading volume is August 2, 2023, with 134,500 units.
N.Nga
Source: VITIC/Tinnhanhchungkhoan