TRACODI shareholders set $3.4mln profit goal

Saturday, Jun 16, 2018 08:45

TRACODI shareholders approved targets for 2018 at the company’s annual general meeting in HCM City on June 15. — VNS Photo

Shareholders in the Transport and Industry Development Investment Joint Stock Company (TRACODI) approved this year’s business targets at the company’s annual general meeting in HCM City on Friday.

The company expects to achieve after-tax profits of VND77.1 billion (US$3.38 million) and revenue of VND1.15 trillion ($50.4 million), up 3 per cent and 5 per cent respectively.

Nguyen Ho Nam, the company’s chairman, said manufactured and agricultural products were expected to account for the largest share of sales at around VND450 billion, followed by infrastructure development and real estate with VND390 billion.

Mining was expected to contribute VND300 billion, while the rest would come from labour exports and training, he said.

The targets are based on the impressive results achieved last year, when profit and revenue reached VND74.95 billion and VND1.095 trillion, up 24 per cent and 32 per cent from 2016.

General director Nguyen Thanh Hung said the company would focus on its core business activities: trading in manufactured and agricultural products, infrastructure construction, real estate, mining and labour exports.

In terms of infrastructure construction, it would focus on the BT 830C project and social housing in Long An Province, solar power and property projects under parent company Bamboo Capital, he said.

Shareholders also approved several other proposals, including paying a 10 per cent dividend for 2017 in shares and a 10-12 per cent cash dividend for this year.

Bamboo Capital owns a 50.61 per cent stake in the company. — VNS

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