Vinachem celebrates healthy H1 profits
Vinachem celebrates healthy H1 profits
At the end of the first six months of this year, the Viet Nam National Chemicals Group (Vinachem) reported a rise in profits of VND1.787 trillion (US$85.1 million), an increase of 12.6 per cent against the same period last year.
This outcome was discussed at a recent conference to review the implementation of tasks in H1/2013 and operations in H2.
According to a general assessment, Vinachem's industrial production continued to face a number of difficulties and challenges during the period. However, efforts by the industry along with good management by the group helped boost production and businesses in sthe first half of this year and yielded some excellent results.
In the second quarter of 2013, the value of production reached VND11.894 trillion ($566.4 million), turnover hit VND12.361 trillion ($588.62 million) and profits recorded VND937 billion ($44.62 million).
For the whole January-June period, the value of industrial production posted VND21.224 trillion ($1.01 billion), up by 6.7 per cent over the same period last year.
Vinachem's accumulated revenue was VND23.923 trillion ($1.14 billion), up 6.3 per cent year-on-year.
In the past six months of this year, the group's members focused on stimulating the production and consumption of products, keeping stocks at a reasonable level to ensure the supply of essential commodities on the market.
Subsequently, the group has seen its products sell more than during the same period of 2012, which has helped reduce stockpiles.
On the basis of these results for H1/2013, Vinachem has set a target for Quarter 3 of VND11.44 trillion ($544.76 million) in the value of industrial output, VND11.8 trillion ($561.9 million) in turnover and VND800 billion ($38.1 million) in profits.
In order to achieve these targets, Vinachem would focus on speeding up key projects as well as restructuring itself to create the motivation for a thorough development with stable profits, said Nguyen Anh Dung, president of Vinachem's management board.
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