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Steelmaker aims for $19m in annual net profit

Update: March, 27/2012 - 09:04

BINH DUONG — Pomina Steel Mill (POM) aims to earn VND14.4 trillion (US$685.7 million) in net revenue and VND400 billion ($19 million) in net profit this year.

Dividends are expected to be paid at 15 per cent.

Meanwhile, the company estimates that financial costs will increase due to the long-term debt of its steel complex project and rising loan interests in dong.

Last year, Pomina had a net profit of VND404.24 billion ($19.2 million), or 66 per cent of the annual plan. Dividends last year might be paid at 15 per cent, lower than the 20 per cent rate earlier last year. — VNS

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