Facing such challenges, the Gas South’s BOD has decided to innovate, restructure promptly to adapt the new situation and the Company is now enjoying some positive changes after a difficult year. Along with the BOD’s efforts, all Gas South’s employees are always working in a united, professional and synchronous manner to bring many effective solutions in business and production.
The Company has operated its LPG scheduling efficiently and optimally to ensure the stability of the main sources; all branches have worked hard to improve their LPG business management models subject to the characteristics of each region as well as their approved sales and discount policies; other works include strengthening corporate management and reducing costs; strictly implementing the directives and requirements of the Central Government, the Ministry of Health and local authorities on the Covid-19 prevention; effectively conducting human resource training, and so on.
Besides, after more than 1 year of successful merging 2 branches: Eastern Region and VT Gas, into Vietnam Liquefied Petroleum Gas Company Limited - VT Gas, Gas South has recognized the effectiveness of reorganization, including labor efficiency, production and business improvement.
In the first 6 months of 2021, Gas South records a sharp increase in its revenue compared to the same period last year, specifically increasing by 24.6% from VND 2,300.8 billion to VND 2,866.2 billion; profit after tax uplifts, reaching VND 36.9 billion.
In the second quarter of 2021, Gas South’s revenue reach to VND 1,504.3 billion, profit after tax of VND 23.5 billion, increasing by 51% and 580.3% respectively over the same period last year. These results demonstrate the Company’s efforts to overcome challenges of the Covid-19 pandemic and to ensure completion for its 2021 business target, which are reach VND 5,128.52 billion of revenue and VND 78.24 billion of before-tax profit.
In its 2021 business plan, Gas South sets a revenue target of VND 5,128.52 billion and profit before tax of VND 78.24 billion. Thus, after the first 6 months of the year with a pre-tax profit of VND 46.33 billion, the Company has completed 59.2% of this year's plan.
In the last 6 months of 2021, the Covid-19 pandemic is predicted to continue to rise complicatedly. LPG price shall continue fluctuating strongly and is expected to be higher than the planned price. Moreoever, after completing the tax finalization procedures, on 05 August, 2021, the BOD issues the Resolution No. 368/NQ-KMN to terminate the operation of 06 sub-units of the former Eastern Branch and VT Gas Branch. This is the final procedure for dissolution of these branches. All facilities, customers and human resources have been transferred from these branches to Vietnam Liquefied Petroleum Gas Co., Ltd - VT Gas.
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Examining opportunities and challenges related to its operations, Gas South aims to continue to strengthen appropriate and effective measures of Covid-19 prevention and to ensure that all operations take place continuously. In addition, the Company will continue to improve its management system, operate regular review and gradually digitize and simplify the system; apply new measure to increase cost savings, improve the production and business efficiency and make its best efforts to complete its 2021 targets and plans.
Tra My