Coteccon’s shareholders set high targets

Tuesday, Apr 27, 2021 09:12

Coteccons Construction Corporation (CTD) plans to post revenue of VND17.4 trillion, up 20 per cent compared to 2020 with after-tax profits estimated to reach VND340 billion.

Although an increase from last year, the new forecast is lower than previous predictions of VND23 trillion (US$1 billion).

The new target was set at their annual shareholders’ meeting held yesterday in HCM City.

Speaking at the meeting, Bolat Duisenov, Chairman of the Board of Directors, said that in the first quarter of this year, the construction industry was still affected by the COVID-19 pandemic.

Bolat said the corporation also set a target of earning a revenue of $3 billion over the next five years. This year, the company won the bid for 10 new construction projects

Two days before, shareholders also came to a consensus to issue bonds with a total value of VND1 trillion up from VND500 billion. -— VNS

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