PetroVietnam Technical Services Corporation (PTSC) announced revenue of VND5.47 trillion (US$238 million) in the second quarter of this year, up 13.4% year-on-year.

Revenue from financial activities decreased by 23% to VND70 billion.

Pre-tax profit increased by 66% year-on-year to VND405 billion. Post-tax profit was up by 14% year-on-year to reach VND248 billion.

In the first six months, PTSC reported revenue of VND8.7 trillion, down by 2.3% against last year. Post-tax profit was VND359 billion, down by 39%. With these results, the company fulfilled 58% of its revenue plan and 61.4% of the profit plan for this year.

The biggest contributor to revenue and profit in the first half was mechanical engineering and construction, with VND4.17 trillion and VND233 billion, respectively.

Revenues and profits from supplying specialised vessels and processing and export of crude oil (FSO/FPSO) were VND1.9 trillion and VND53 billion, respectively.

By the end of the second quarter, PTSC had receivables of VND6.9 trillion, up 50% compared to the beginning of this year.