TRACODI shareholders set $3.4mln profit goal

Jun 17th at 14:28
17-06-2018 14:28:53+07:00

TRACODI shareholders set $3.4mln profit goal

Shareholders in the Transport and Industry Development Investment Joint Stock Company (TRACODI) approved this year’s business targets at the company’s annual general meeting in HCM City on Friday.

The company expects to achieve after-tax profits of VND77.1 billion (US$3.38 million) and revenue of VND1.15 trillion ($50.4 million), up 3 per cent and 5 per cent respectively.

Nguyen Ho Nam, the company’s chairman, said manufactured and agricultural products were expected to account for the largest share of sales at around VND450 billion, followed by infrastructure development and real estate with VND390 billion.

Mining was expected to contribute VND300 billion, while the rest would come from labour exports and training, he said.

The targets are based on the impressive results achieved last year, when profit and revenue reached VND74.95 billion and VND1.095 trillion, up 24 per cent and 32 per cent from 2016.

General director Nguyen Thanh Hung said the company would focus on its core business activities: trading in manufactured and agricultural products, infrastructure construction, real estate, mining and labour exports.

In terms of infrastructure construction, it would focus on the BT 830C project and social housing in Long An Province, solar power and property projects under parent company Bamboo Capital, he said.

Shareholders also approved several other proposals, including paying a 10 per cent dividend for 2017 in shares and a 10-12 per cent cash dividend for this year.

Bamboo Capital owns a 50.61 per cent stake in the company.

bizhub



NEWS SAME CATEGORY

BSR first shareholders’ meeting

Binh Son Refining and Petrochemical Co Ltd (BSR) will hold its first shareholders’ meeting on June 21 in Quang Ngai City - five months since its initial public...

Phuong Nam divests 12.5 per cent of CJ CGV to pay off debts

Phuong Nam Cultural Company (code: PNC) has just announced to collect comments from shareholders on selling 12.5 per cent of CJ CGV Vietnam Co., Ltd. for VND160...

Pharmacy firm faces difficulties as competition rises

Hau Giang Pharmaceutical Joint Stock Company (DHG) is gradually losing its share on the traditional OTC distribution channel, according to Viet Dragon Securities...

No transactions on first day of listing of Halico

No transactions occurred on first day of listing Hanoi Liquor JSC (Halico) on the Unlisted Public Company Market (UpCOM) on June 8.

GELEX fined to more than $53,000 for erroneous tax declaration

The Hanoi Department of Taxation has just issued a fine of more than VND181 million ($8,000) to Vietnam Electrical Equipment JSC (GELEX) for erroneous tax...

One more foreign investor flees from Hoa Sen Group

Hoa Sen Group’s newest dissident is major foreign shareholder Tundra, which has officially sold 1.36 million stocks, equaling 0.4 per cent of the charter capital of...

Danang Rubber JSC to be fined nearly $80,000

The Danang Department of Taxation has just decided to penalise the administrative violations of Danang Rubber JSC (code: DRC) due to the change of company’s profit...

Hung Vuong Corporation (HVG) reports loss of $12 million in second quarter

Hung Vuong Corporation's (code: HVG) consolidated financial statement for the second quarter of this year showed falling business performance, while the price its...

DHG to abolish FOL

Lifting the foreign ownership limit (FOL) to 100 per cent in Hau Giang Pharmaceutical JSC (DHG) will open the doors for old and new investors to increase holdings...

Protrade to make second share auction before shareholders’meeting

Binh Duong Production and Trading Goods Corporation (Protrade) will make the second share sale prior to its first shareholders’ meeting expected in July, the...


MOST READ


Back To Top