Workers at a plant of Garco 10. The company reported a profit of VND48.55 billion in 2015. — Photo VNA

HA NOI (Biz Hub) — Garment 10 Corporation JSC (GARCO 10) reported an after-tax profit of VND48.55 billion (US$2.17 million) in 2015, an increase of 7.4 per cent over 2014.

Meanwhile the company's revenue in 2015 reached VND2.71 trillion, posting a 15.7 per cent increase compared to 2014.

However, GARCO 10's cost of goods for sale increased 16 per cent to reach VND2.33 trillion and expenses more than doubled to touch VND30.5 billion in 2015.

As of December 31, the company's total assets soared by VND220 billion to touch VND1.031 trillion. Of this amount, the company's cash and cash equivalent was VND73.5 billion, and its inventory was VND312.3 billion.

On March 29, the State Securities Commission issued a decision to fine GARCO 10 VND60 million as the company had not presented its documents on time, including its 2013 annual report and its financial statements in 2013 and 2014. —VNS