Vietnam Rubber Group reports 4% profit from latex
Vietnam Rubber Group reports 4% profit from latex
Viet Nam's largest latex producer, the Vietnam Rubber Group (VRG), reported that latex had earned only 4 per cent of the total VND1.2 trillion (US$53.7) profit in H1.
According to the financial statement for the first half of 2016, the price of rubber was VND28.3 million per tonne, VND4.4 million lower than in the previous term.
As of June 30, the group had sold 110,315 tonnes of rubber, reaching 34.5 per cent of the annual target. With the H1 price for rubber, the group said it had earned a profit of VND500,000 per tonne. Sales revenue and profit from rubber reached VND3.1 trillion and VND43.9 billion, respectively.
Besides latex, the group's total revenue of VND8.4 trillion comprised VND2.4 trillion from the timber industry, VND806.7 billion from supporting industries, VND870.7 billion from the industrial park and VND154 billion from hydropower, as well as VND225 billion from other industries and VND851 billion from its finance, joint ventures and associated firms.
HCM City-based VRG was established upon re-structuring the Vietnam General Rubber Corporation in 2006. Its main area of operations includes planting, maintaining, exploiting and processing rubber latex. It also has operations in the fields of agriculture and forest plantation, engineering, cargo and construction materials, as well as real estate, hotels and restaurants. Currently, the group has nearly 60 parent and associated companies in Viet Nam, Laos and Cambodia.
