Simco Song Da gains 26.7b dong profit in 2010

Simco Song Da Joint Stock Co (SDA) has recently announced the audited business and production results in 2010 whereby the company’s net revenue from merchandises and services was 136.77 billion dong, falling 12.5 percent against 2009′s.



The original costs of goods for sale decreased significantly, so SDA’s gross profit increased 3.6 percent against 2009′s, to reach 42.8 billion dong.



However, the company’s revenue from financial operations fell strongly 49.7 percent year-on-year, to reach only 11 billion dong.

Meanwhile, the financial costs increased 246 percent to 4.5 billion dong, including 3.2 billion dong for its standby fund. So, SDA’s profit fell 27.2 percent from 2009′s to reach 37.7 billion dong.



In addition, in 2010, the company no longer enjoyed the reduction on corporate income tax (CIT) like in 2009, so its after tax profit fell 38.9 percent to reach 26.7 billion dong.



The company reached the earnings per share (EPS) of 2,448 dong.



After the trading session on March 14, SDA-coded shares slipped 900 dong (or 5.4 percent) to 15,800 dong per share with the total trading volume of 38,300 shares.

Tags: Vietnam business, Vietnam business news, Vietnam enterprises

Posted by VBN on Mar 15 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