Hoa Phat Group targets 1.9tr dong profit in 2011

Hoa Phat Group Joint Stock Co (HPG) has recently passed a business and production plan in 2011 with 17.5 trillion dong of revenue and 1.865 trillion dong of after tax profit.



HPG will also submit to the annual shareholders’ meeting its dividend payment plan of 30 percent including 20 percent being paid in cash on December 15, 2010 and the 10 percent remaining will be done in the last half of 2011.



HPG expects 40 percent dividend payout in 2011.



On March 31, 2011, HPG plans to organise its annual shareholders’ meeting at Ballroom, Opera Hilton hotel, No 1 Le Thanh Tong, Hanoi.



HPG also plans to use the capital surplus and profit to buy back about less than 10 million HPG-coded shares as its fund shares according to the market price.



In addition, HPG plans to contribute 60 percent stake or 48 billion dong to Visiondoor Co.



In March 2011, the group expects to increase its holding into Hoa Phat Minerals Joint Stock Co from 49 percent to 70 percent (the current chartered capital of Hoa Phat Minerals Joint Stock Co is 150 billion dong).

Tags: Vietnam companies

Posted by shawcurtis78 on Mar 10 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry