STC-listed PetroVietnam Fertiliser and Chemical Joint Stock Co (coded DPM) estimated to achieve Q1 pre-tax profit of 400 billion dong. The company recently held its annual shareholders meeting on April 16, 2010, in which the shareholders already passed most of the proposals submitted in the meeting.

As for 2010 business plan, the company targeted to reach total revenue of 5.646 trillion dong, after tax profit of 1.007 trillion dong and dividend of 13 percent, equal to 50 percent of total gained profit.

DPM's representative explained the reduction in 2010 profit plan that the company's profit this year would mainly be taken in Q1 and Q4, while the third quarter be the most difficult period due to harsh weather conditions as well as sharp reduction in fertiliser prices.

(SOurce: Intellasia)