Cement consumption in first five months fulfils 39.1pct of year plan
Ministry of construction has recently released the production statistics in the first five months of this year, of which Vietnamese cement producers have reached total production output of 4.84 million tonnes of cement in May only, raising the accumulative output in the first five months to 21.48 million tonnes, equivalent to 39.4 percent of the year plan. The country’s cement consumption was estimated at 4.75 million tonnes in May and 21.29 million tonnes in Jan-May period, or 39.1 percent of year plan.
In the first quarter of 2011, most of the cement producers reported gaining high profit, in comparison with the same period last year. Hoang Mai Cement Joint Stock Co (coded HOM) estimated to gain Q1 revenue of 415.58 billion dong and after tax profit of 21.26 billion dong, increasing by 31 percent and 22 percent respectively year-on-year. Can Tho Minerals and Cement Joint Stock Co (coded CCM) reported earning total revenue of 68.5 billion dong and pre-tax profit of 8.2 billion dong after the first three months, up 44 percent against the same period of 2010. Hai Van Cement Joint Stock Co (HVX) posted to reach 199.31 billion dong in revenue and 2.48 billion dong in after tax profit by the end of March, up 134 percent and 64 percent year-on-year.
However, other cement firms saw sharp slump in business results in Jan-March. In details, Bim Son Cement Joint Stock Co (BCC)’s profit declined by 47 percent to 22.88 billion dong, while Ha Tien 1 Cement Joint Stock Co (HT1) suffered loss of 56.06 billion dong.
Sai Son Cement Joint Stock Co (SCJ) gained total revenue of 55.3 billion dong and combined profit of 7.75 billion dong in the first three months of this year, down sharply from combined profit in Q1 of 2010 at 12.44 billion dong. – DTCK
Tags: Vietnam cement, Vietnam cement industry
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