The first 9 months of 2021: PETROSETCO recorded an increase of more than 50% in profit after tax over the same period
20/10/2021 04:18:08 PM
Petrovietnam General Services Corporation (PETROSETCO, stock code: PET) has just announced its consolidated financial statements for the third quarter of 2021. Accordingly, accumulated in the first 9 months of this year, PETROSETCO recorded 11,485 billion VND in net revenue, up more than 18% over the same period and 173.4 billion VND in profit after tax, up 54% over the same period.
PETROSETCO's third Quarter of 2021 reached the net revenue of VND 3,872.6 billion VND, profit after tax of VND 49.5 billion VND.
With over 15 years of experience in importing, distributing and trading in the field of information technology products, with solid financial potential, distribution and retail system stretches on Viet Nam, PETROSETCO is currently one of the leading Distributors in Vietnam in the field of distributing smart phones, laptops and technology products. In particular, beside other brands previously distributed such as Samsung, Sony, HTC, Blackberry, Itel, Lenovo, Dell..., becoming a distributor of Apple in Vietnam since June 2020 is considered a progress for PETROSETCO in cooperation with global brand partners.
On August 12, PETROSETCO continued to sign an authorized distribution contract of all authorized Apple product in the Vietnamese market during 2021-2022. The attraction of iPhones will continue to be a factor that opens up great opportunities for PETROSETCO to make a spectacular "breakthrough" in the last months of 2021.
The Covid-19 pandemic has increased the trend of digitization and impacted the behavior of Vietnamese consumers. Benefiting from that trend, Bao Viet Securities Joint Stock Company (BVSC) sees the potential of distributing information and communication technology products (Information & Communication Technology). - ICT). BVSC has an outperformed recommendation for PET stock with a target price of 35,224 VND/share. PET is currently traded at 30,400 VND/share (October 19), an increase of more than 10% in the past 1 month and an increase of more than 190% in the past 1 year.