Steel pipe maker targets 39.5b dong profit in 2011

Vietnam-Germany Steel Pipe Joint Stock Co (VGS)’s director board has recently agreed this year’s business plan and will submit for approval in the coming shareholders’ meeting on March 26.

Accordingly, VGS targets to bring 2 trillion dong in revenue, pre-tax profit at 45.5 billion dong and after tax profit at 39.5 billion dong.

VGS said that in this year’s revenue plan, about 62 percent will be from trade operations and 35 percent from productions.

Also in 2011, the steel maker will seek partners to develop the Vietnam-Germany Legend City urban zone in Dao Duc commune, Binh Xuyen district in the northern province of Vinh Phuc.

Ending 2010, VGS’s total revenue was 2.185 trillion dong, pre-tax profit at 31.2 billion dong and after tax profit at 27.5 billion dong.

On March 26, the company will organise the annual shareholders’ meeting at the company’s hall in Binh Xuyen industrial zone, Binh Xuyen district, Vinh Phuc province.

Tags: Vietnam companies, Vietnam enterprises