Vicostone’s shareholders approve two scenarios for 2020 business

Monday, Jun 01, 2020 06:59

The General Meeting of Shareholders of Vicostone took place in Ha Noi on Saturday. — Photo courtesy of the company

Shareholders of Vicostone Joint Stock Company, a member of Phenikaa Group, approved the company’s two scenarios for its business this year amid the impact of the COVID-19 pandemic at a General Meeting of Shareholders in Ha Noi on Saturday.

The first scenario would follow the 2020 plan approved by the Board of Directors on December 31, 2019. Under the plan, revenue from sales of goods and services in 2020 is expected to exceeded VND6.65 trillion (US$286 million), up 19.6 per cent year-on-year. The company’s pre-tax profit would be above VND1.97 trillion ($85 million), up 20 per cent compared to 2019.

For the second scenario, the company assumes its business performance would be influenced by the COVID-19 pandemic and would expect only a slight increase in revenue and profit at 1.25 per cent and 0.98 per cent, respectively.

From now until the year-end, the company will focus on digital transformation in production, business and corporate governance to adapt to the fluctuations of the economy, market and technology.

It will continue to ensure its presence in traditional markets while seeking new outlets, in addition to developing new products to better meet the needs of customers.

Founded in 2002, Vicostone Joint Stock Company specialises in manufacturing and supplying high-quality quartz-based engineered stones under VICOSTONE® Quartz Surfaces brand. The company’s products are shipped to more than 40 countries including the US, Canada, the EU and Australia. — VNS

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