Steel maker gains combined profit of 56b dong in H1

In the first half of this year, Tien Len Steel Group Joint Stock Co (coded LTH) announced to reach after tax profit of 56.49 billion dong, in which the profit for parent company’s shareholders was 55.56 billion dong.

The group’s net revenue in Jan-June was estimated at 1.578 trillion dong, fulfilling 30.4% of the year plan of 5.178 trillion dong. Meanwhile, the company’s principal sales costs counted for 1.417 trillion dong, and gross profit of 160 billion dong.

Within this period, the company’s total revenue from financial activities was posted at 13.8 billion dong, but the business charges counted for 83.9 billion dong, dragging the net profit to 74.4 billion dong.

In addition, in the past six months, TLH’s other profit was negative one billion dong. Therefore, the company’s pre-tax profit was counted for 73.4 billion dong, equalling to 31% of the year plan of 350 billion dong; after tax profit of 56.4 billion dong, in which that of parent company reached 55.56 billion dong. The group’s EPS in H1 was 1,029 dong. – Vietstock

Tags: Tien Len Steel Group, Vietnam steel industry, Vietnam steel market

Posted by VBN on Aug 17 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry