Garco 10 Corp. posts $2.17 million profit

Workers at a plant of Garco 10. The company reported a profit of VND48.55 billion in 2015. — Photo VNA

HÀ NỘI (VNS) — Garment 10 Corporation – JSC (GARCO 10) reported a post-tax profit of VND48.55 billion (US$2.17 million) in 2015, 7.4 per cent higher than in 2014.

The company’s revenue reached VND2.71 trillion in 2015, a 15.7 per cent increase compared to 2014.

But Garco 10’s cost of goods sold increased 16 per cent, totalling VND2.33 trillion. Garco’s financial costs more than doubled, totalling VND30.5 billion in 2015.

As of December 31, the total value of Garco 10’s assets soared by VND220 billion to total VND1.031 trillion. Of this total, the company’s cash and cash equivalents were valued at VND73.5 billion. Inventory was valued at VND312.3 billion.

On Tuesday the State Securities Commission decided to sanction Garco 10 a total of VND60 million, as the company did not disclose documents on time, including their 2013 Annual report and their 2013 and 2014 financial statements. — VNS

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