With many difficulties, PV DMC (PVC) expects a profit of less than 200 million dong in 2019

According to the consolidated business plan in 2019, total PVC revenue reached VND 1,962 billion, pre-tax profit of VND 3.17 billion and profit after tax was VND 0.17 billion. This figure is very low compared to the previous year when PVC recorded consolidated revenue of VND 2,522 billion and after-tax profit of VND 12 billion.

Drilling fluid and petroleum products joint stock company - DMC (Ticker: PVC) has just announced the document of shareholders in 2019 with a lot of remarkable information.

PVC said that in 2019 the company will face many difficulties as follows:

Drilling fluid service sector: PVC is unlikely to increase the amount of work done from this field, because the number of drilling wells expected in 2019 does not increase much compared to the previous year. In 2019, PVC is expected to provide drilling fluids services for about 22 drilling wells (2018 for 19 wells). At the same time, this sector also appears new competitors, so it will be more difficult for PVC to increase revenue and profit.

Industrial service sector: Currently, PVC has not had the first-hand contracts for 2019 but is still in the process of seeking new jobs in some of the Group's projects such as Long Son Project, Ca Mau Fertilizer Plant, PVOil and some power plants outside the industry. At the same time, the field of environmental treatment also faces many difficulties in developing the market in and outside the industry due to the need to build new water treatment systems in the oil and gas industry which is still low and need time to reach customers. Goods outside the industry.

Business areas: Some products with high turnover such as Sulfur products and plastic beads are facing many difficulties. For imported sulfur products, it is difficult to supply input. PVC's plastic business in 2019 will only focus on importing plastic resins or bidding for spot lots from NSRP.

According to the AGM document, PVC stated that in 2019, it will cooperate with Thai gas company (BIG) / Air Products (USA) to study and evaluate investment and business opportunities in the field of qigong. Career in Vietnam with the goal of establishing a joint venture company in 2019.

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