Rubber producer reports gaining Q1 profit of 78.1b dong
After the first three months of 2010, Phuoc Hoa Rubber Joint Stock Co (coded PHR) reported gaining net revenue of 252.4 billion dong, increasing by 45.6 percent year-on-year
Meanwhile, the costs of goods sold (COGS) increased by 1.3 billion dong, resulting in Q1 united profit of 93.6 billion dong, up 77.7 billion dong.
In details, the company’s profit from business activities reached 88.3 billion dong, equalling to 569 percent against the same period of last year; while other profits of 14 billion dong.
The pre-tax profit in Jan-March was estimated at 102.3 billion dong, equivalent to 36.9 percent of the year plan of 277 billion dong. The company’s year plan was worked out on the basic of average rubber sales price in 2010 of 34 million dong per tonne.
However, the average rubber sales price in the first three months was posted at 51.46 million dong per tonne, and in March of 55 million dong per tonne, compared to average sales price in Q1 last year of 26.3 million dong per tonne.
Phuoc Hoa Rubber JSC reported reaching total production volume in Q1 of 2,700 tonnes, equal to 12.56 percent of the year plan of 21,500 tonnes.
The company’s after tax profit in Jan-March was posted at 78.1 billion dong, up 262 percent year-on-year and EPS of 974 dong.
CafeF
Tags: Phuoc Hoa Rubber Joint Stock Co, Vietnam rubber producers, vietnam stock, Vietnam stock market