PTL projects increased revenues for next six months
PTL projects increased revenues for next six months
Petroleum Trading Lao Public Company (PTL), listed on the Lao Securities Exchange (LSX), has projected an increase in revenue this year as the company nearly doubled profits in the first six months.
PTL Chief Executive Officer Chanthone Sitthisay told a press conference yesterday in Vientiane on the Semi-Annual Business Review 2015 that in the first six months of 2015 the company generated revenue of more than 421 billion kip, down from 559 billion in 2014.
Although the amount of revenue declined, the company's profits were greater than last year.
The company's profit of 13 billion kip after expenses was nearly double compared to 2014, he said.
Mr Chanthone said PTL would rollout further business expansion in forthcoming months to boost gross sales to correspond with the high season of business operators.
Beside business expansion in the domestic market, the company has already implemented some plans for overseas growth.
“PTL has already begun operations in Malaysia. We will open other branches in China at the end of this year and then open more branches in Thailand and Vietnam respectively,” he said.
“Recently, the company received an invitation to study the feasibility of investing in Myanmar and in early 2016 we expect to operate businesses in various sectors of that country,” Mr Chanthone added.
Although Laos was a fuel importing country, the oil price drop on the global market hadn't affected profitability of the company much due to an emphasis on balancing supply with demand in each pe riod, he said.
PTL was founded in April 2008 and listed on the LSX on October 2014, attracting local and foreign investors as shareholders.
According to the company's five-year business expansion plan for 2014-2018, the company would increase the number of service stations to 204, up fro m the current 107, the number of project clients to 49, raise sales volumes to 2.163 billion litres, and invest 538 billion kip in Laos and 1.933 trillion kip abroad.
The company deals mainly in the import-export and distribution of petroleum products such as diesel, octane 91 and 95 gasoline, and petrochemicals. It is also Thai Sun Oil's distributor.
