Urea maker PVFCCo revises up 2008 targets

Friday, April 18, 2008
Top fertiliser maker, Phu My Fertiliser, or PVFCCo , said on Thursday it had raised its target for pre-tax profit this year by nearly 30% thanks to strong demand and expected higher prices.
The company, a subsidiary of oil monopoly Petrovietnam, revised its 2008 pre-tax profit target to 1.54 trillion dong from 1.19 trillion.
Last year the firm posted a pre-tax profit of 1.32 trillion dong.
It also raised its revenue projection by 8 percent to 4.75 trillion dong , which would be 25 percent higher than in 2007, PVFCCo said in a statement.
Shares in PVFCCo rose 1.96% on Thursday to 52,000 dong on the Ho Chi Minh Stock Exchange. (Reuters)