Petrovietnam driller's 2007 profit soars
HANOI, Jan 18 (Reuters) - Petrovietnam oil rig firm PV Drilling PVD.HM, Vietnam's seventh-largest listed firm, had a net profit of 560 billion dong ($35 million) last year, up 367 percent from 2006, its chief executive was quoted as saying.
Do Van Khanh said the firm expected this year's gross profit to rise to 60 billion dong on revenues of 3 trillion dong, the Securities Investment newspaper reported on Friday. Its revenues last year were 2.7 trillion dong, he was quoted as saying.
An oil rig that started operation off the southern city of Vung Tau last March and another rig operating onshore in Algeria since since September had helped boost the earnings of the Ho Chi Minh City-based company, he said.
The firm's shares were up 1.45 percent at 140,000 dong ($8.69) at 0236 GMT on Friday, valuing it at $945 million, the seventh largest of the 141 firms listed on the Ho Chi Minh Stock Exchange .VNI
PV Drilling said it had a 10 percent share of Vietnam's drilling market, but around 80 percent of drilling equipment and well maintenance services market. ($1=16,104 dong) (Reporting by Ho Binh Minh; Editing by Michael Battye)
