Dai Thien Loc estimates to gain Q1 profit of 100b dong

Nguyen Thanh Nghia, chair of management board in Dai Thien Loc Joint Stock Co (coded DTL) announced that by the end of Q1, the company estimated to reach after tax profit of about 100 billion dong, a sharp increase in comparison with the same period last year.



Nghia revealed that the company’s positive growth in Q1 profit was thank to increasing sales price in steel products in the first three months of this year. It was estimated that the domestic steel price has surged by 30 percent since the beginning of the year.



In 2011, DTL aimed to obtain targeted revenue of 2.5 trillion dong, after tax profit of 250 billion dong. The company planned to hold the annual shareholders meeting on April 11 to seek approval among the shareholders about the targeted business plan.



Last year, the company reported earning total revenue of 1.8 trillion dong and after tax profit of 185 billion dong. DTL would advance second round dividend in cash at ratio of 20 percent, of which 10 percent will be paid on March 21 and the rest 10 percent on April 11.

Tags: Vietnam business, Vietnam stock news

Posted by ruscoeswanson28 on Mar 9 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