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DPM - High oil prices continue to hurt margins - Earnings Flash

DPM posted Q1 2018 results, with net revenue increasing by 5% and NPAT-MI dropping 19.2% to VND2.1tn (USD91.8mn) and VND180bn (USD7.9mn), respectively. The net profit drop was mainly due to a jump in input gas costs and the price of fuel oil, which outweighed urea price and sales volume recoveries.