Cement producer suffers Q4 financial loss of 165b dong

Ha Tien Cement Joint Stock Co No 1 (coded HT1) has lately released the financial reports in Q4 of 2010 with loss of 25.926 billion dong, raising the accumulative net profit to 54 billion dong, a year-on-year decline of 66 percent.

According to the reports, HT1 posted Q4 net revenue of 1.272 trillion dong, up 41 percent against the same period last year, combined profit of 259 billion dong, increasing by 95 percent year-on-year. However, the company suffered from financial loss of 165 billion dong, a surge of 544 percent over that of Q4 of 2009 due to high lending rates in the bank. In addition, because the company put into operation the Binh Phuoc cement plant, the company had to add the lending interest paid to the bank for loans into the costs in Oct-December period.

Tags: Vietnam business, Vietnam stock news

Posted by lixbethwhorelock on Mar 7 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