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Mining company posts losses in second quarter

Update: July, 14/2012 - 08:00

HA NOI — Mining company Tai Nguyen Co (TNT) became the first enterprise to report losses in the second quarter, with a loss of VND32 million (US$1,500), well below the VND1 billion ($47,600) loss the company suffered in the same period last year.

TNT's losses in first six months of the year totalled VND819 million ($39,000).

TNT's earnings in the second quarter reached VND32.49 billion ($1.5 million), an improvement over the first quarter, during which the company had almost no revenue.

Cash on hand at end of the second quarter totalled VND784 million ($37,300), declining VND116 million ($5,500) from earlier in the year. — VNS

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