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VietNamNews

Loss for building giant

Update: August, 04/2012 - 07:47

HA NOI – Construction giant Vinaconex (VCG) posted a significant loss in the first half of the year. Earnings on operations reached nearly VND860 billion (US$40.9 million) in the second quarter, an increase of 13 per cent over the same period last year, while the company's expenses decreased slightly, helping profits for the quarter double to nearly VND84 billion ($4 million). Additional earnings from financial investments boosted net profits to VND127.5 billion. However, heavy losses in the first quarter of VND844 billion ($40.1 million) resulted in an overall loss for the half of VND757 billion ($36 million).-VNS

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