Hoa Sen Group targets to gain net profit of 150b dong at minimum

The southern bourse-listed Hoa Sen Group Joint Stock Co (coded HSG) planned to hold the annual shareholders meeting on March 19, 2011 for discussing the business plan for fiscal year of 2010-2011.

There were three plans to be proposed for approval.



In the first plan, HSG targeted to reach 150 billion dong of after tax profit. The company expected net profit in the second plan of 191 billion dong and in the third plan of 249 billion dong. In 2011, the company was supposed to pay dividend at no more than 10 percent of par value.



The group set targets to reach total production output of 320,000-378,000 tonnes, gaining total revenue of 5.993 trillion dong and 6.79 trillion dong respectively.



In 2011, the company would invest additional 850 billion dong in Hoa Sen Phu My corrugated steel factory – the second phase. At the same time, the company also select location to build the Hoa Sen steel mill in northern region with total investment capital of 60 billion dong.



In fiscal year of 2009-2010, HSG reported gaining total net revenue of 4.899 trillion dong and after tax profit of 215 billion dong. The company planned to pay dividend of no more than 15 percent ratio.

Tags: Vietnam stock news

Posted by VBN on Mar 18 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