Sacom aims to reach net profit of 204b dong in 2011

Sacom Investment and Development Joint Stock Co (coded SAM) announced to submit the 2011 year plan to seek for approval from the shareholders in the coming annual shareholders meeting to be held on March 22. The company aimed to reach targeted revenue of 1.2 trillion dong and after tax profit of 204 billion dong.



This year, the company planned to invest $5.54 million to build a new factory in Long Thanh Industrial Park, Dong Nai province. The construction would be completed by November 2011.



In addition, the company planned to transfer the land plot in Sacom-Dien Bien Phu project in the first half of 2011.



As for Sacom Resort Complex, the company is completing the procedures for transferring the land use right of the remaining area of 55.55 hectares. The project has total area of 269 hectares. As scheduled, Sacom will start building 14 out of 28 villas in this project in Q2 and expects to finish the construction works by Q4.



SAM was supposed to hand over the apartments in Samland River View Buildings in Q2 for trading and leasing offices and apartments.



In 2010, SAM reported gaining 883.8 billion dong of total revenue and pre-tax profit of 127.7 billion dong, fulfilling 67 percent and 45 percent of targeted year plan respectively. The company planned to pay dividend at 15 percent.

Tags: Vietnam business news

Posted by VBN on Mar 14 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