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SMC loses $8.7 million last year

Feb 1st at 14:01
01-02-2016 14:01:40+07:00

SMC loses $8.7 million last year

SMC Investment Trading Joint Stock Company (SMC) recorded a loss of VND195 billion (US$8.7 million) last year, as the company saw a net profit of VND5 billion ($222,200) in the fourth quarter.

In the final quarter of 2015, SMC took in revenues of VND2.05 trillion ($91 million), nearly half of the figure in the fourth quarter of 2014 as market prices decreased sharply, dragging down company sales. However, the company managed to earn a net profit of VND5 billion ($222,200) in the fourth quarter of last year, as its quarterly expenses decreased significantly, such as its financial expenses, selling expenses and management expenses.

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