Ceramics firm Viglacera sees profits over $21 billion

Monday, Jul 16, 2018 18:43

A worker Cotto floor tiles at Viglacera Halong JSC in the northern province of Quang Ninh. — VNA/VNS Photo The Duyet

Glass and construction ceramic producer Viglacera forecasts earnings of nearly VND500 billion (US$21.7 million) in pre-tax profit in the first six months of this year.

Of the estimate, the parent company’s revenue is expected to account for 82 per cent, at VND300 billion, equivalent to 51 per cent of the year’s estimate.

The company, whose stocks are traded on the Ha Noi Stock Exchange under the code VGC, aims to attain pre-tax profit of VND231.5 billion and VND518.1 billion in Q3 and in the second half of this year, respectively.

As for the parent company, the corresponding figures are VND120.3 billion and VND288.5 billion. The parent company’s total profit for 2018, thus, is projected to touch VND600 billion, up 7 per cent year-on-year.

In 2017, VGC’s consolidated pre-tax profit was VND913.8 billion, equivalent to 108 per cent of the annual plan approved by the General Meeting of Shareholders, up 19 per cent compared to 2016. Of this, pre-tax profit earned by the parent company reached VND566.5 billion in 2017, fulfilling 115 per cent of the annual plan, up 28 per cent compared to 2016.

VGC’s development investment plan in 2018 will focus on high-tech building materials, green projects and urban housing projects. — VNS

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