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VietNamNews

Việt Nam Rubber Group eyes profit rise

Update: February, 07/2018 - 09:00
Viet Nam News

HCM CITY – Việt Nam Rubber Group targets an 8 per cent rise in revenues and 33 per cent rise in pre-tax profits this year, Nguyễn Tiến Đức, its deputy general director, said yesterday.

At a meeting held to review last year’s performance and discuss this year’s targets, VRG settled for a revenue and profit targets of VNĐ23 trillion (US$1 billion) and VNĐ5.5 trillion ($242 million).

Last year it had achieved 120 per cent and 136 per cent of the corresponding targets.

It expects its core business, natural rubber, to be the main source of revenue, accounting for VNĐ15.5 trillion.

VRG also generates income from its industrial zones, wood business and manufacture of rubber products.

VRG plans to list on UPCoM as early as April and on the HCM Stock Exchange in June or July.

It is also hoping to sell another 11.88 per cent of its equity to strategic investors, some 50 million shares to its employees and 830,000 shares to its trade union. — VNS

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