Wednesday, August 21 2019

VietNamNews

Rubber group sees both revenue and profit rise

Update: July, 31/2019 - 16:32

 

Currently GVR is managing 407,800 hectares of rubber area. The company has 106 subsidiaries and 20 joint venture companies with a total investment value of more than VNĐ37.2 trillion. — Photo cafef.vn

HÀ NỘI — The Việt Nam Rubber Industry Group JSC (GVR) reported revenue and post-tax profit of VNĐ7.6 trillion (US$325 million) and VNĐ1 trillion in the first half of this year, up 8.5 per cent and 15.7 per cent year-on-year, respectively.

The figures represent 31.4 per cent of the revenue target and 25.5 per cent of the profit target for this year.

In the second quarter alone, the group earned VNĐ4.2 trillion in revenue and VNĐ744 billion in post-tax profit.

The group has total assets of VNĐ76 trillion and more than VNĐ12.5 trillion of liabilities.

Currently, GVR manages 407,800 hectares of rubber area. The company has 106 subsidiaries and 20 joint venture companies with total investment value of more than VNĐ37.2 trillion.

In rubber latex processing, GVR accounts for more than 35 per cent of Việt Nam's production.

GVR has advantages in developing material plantation and wood processing. The company has 13 factories processing wood products such as medium-density fibreboard (MDF), plywood, refined wood, rubber, of which plywood accounts for 60 per cent of the market supply, MDF accounts for 50 per cent.

Each year, the group can supply nearly one million square metres of artificial wood with high quality products.

Additionally, GVR manages 12 industrial parks with total area of ​​6,000 hectares. Commercial land for lease accounts for nearly 4,400 hectares.

The group will continue to invest in infrastructure of existing industrial zones such as Nam Tân Uyên, Rạch Bắp and Tân Bình in the southern province of Bình Dương. It will also develop residential areas and service areas for industrial parks. — VNS

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