TIEs release performance results

In the first six months, TIE Joint Stock Company (HOSE: TIE) achieved profit after tax of 20.14 billion dong, up by 98 percent over the same period of 2009 and basic earnings per share is at 2.105 dong.

According to the recently announced business results, in the first half of 2010, the company obtained 20.25 billion dong in profit from other incomes, while net profit reached only 3.25 billion dong. This has helped increase profit before and after tax of the company to 23.5 and 20.14 billion dong, much higher than 11.6 and 10.16 billion dong of the same period of last year, accounting for 59 percent of the yearly profit after tax.

The accumulated net revenue of the six months of TIE was 165.5 billion dong, up by 28 percent compared to the same period of last year and equivalent to 46 percent the yearly plan. Of that, cost of goods sold was 161.46 billion dong and the gross margin reached 4.14 billion dong.

For the second quarter alone, TIE obtained 92 billion dong in net turnover and 8.9 billion dong in profit after tax.

In 2010, TIE plans to achieve 357 billion dong in turnover, 40 billion dong in profit before tax and dividends of up to 40 percent.

Tags: TIE, vietnam stock, Vietnam stock market

Posted by VBN on Jul 23 2010. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry