PTL still confident despite market volatility
PTL still confident despite market volatility
Petroleum Trading Lao Public Company (PTL) remains confident about its business prospects despite fuel price volatility on the world market.
The company last week held their annual general shareholders meeting for 2014 in Vientiane to report on sales, expenditure and management as well as expansion plans for this year.
The volatility of world fuel markets last year directly affected turnover and sales of the company, Vice Chairman of the Board of Directors and CEO of the PTL, Mr Chanthone Sitthixay said.
Total sales in 2014 decreased 5.54 percent to 120 million litres compared to 127 million litres in 2013. Meanwhile, PTL's sales figure for 2014 fell 12.3 percent short of the 137 million litre projected target.
However, the decreased price of fuel was considered a benefit for consumers.
With the cooperation of all PTL management and employees they could achieve satisfactory sales volume, he said.
“Our current sales base ac counts for 17.7 percent of the market across the country and contributed over 200 billion kip in taxes to the government,” Mr Chanthong reported.
“The factor that creates potential for the company and our sales is increasing our focus on maintaining the fundamental quality of products,” he explained.
The company plans further expansion of gas stations this year, focusing on five Platinum Type, five Gold Type and 13 Thong Thin Pathana (rural gas stations), with the company directly investing in the facilities to enhance the quality of service to consumers.
Since the company listed with the Lao Securities Exchange in December 2014 it has endeavoured to build trust with its investors and customers.
The company was also preparing to develop human resources and introduce new technology to bring gas stations up to international standards and better serve customers ahead of Asean Economic Community integration by the end of this year, PTL Chairman of the Board of Directors, Mr Vang Rattanavong mentioned.
The company was still looking for more opportunities in the petroleum market to expand the business while serving the nation's people in line with their corporate mission.
