Firms face challenges completing targets

Saturday, Nov 09, 2013 09:55

Latex is a product of Dong Phu Rubber Company. -- Photo
HA NOI (Biz Hub)  — Dong Phu Rubber's (DPR) revenue in the first 10 months reached VND800 billion (US$37.7 million), accounting for only 65 per cent of the annual target and 73 per cent of last year's figure.

Its gross profit was VND287 billion ($13.5 million), completing only 56 per cent of the annual plan. The reason behind the gloomy results is that product prices have been below expectations,

The average selling price in the period was VND54 million ($2,500) per tonne compared to the expectation of VND62 million ($2,900) per tonne.

Meanwhile, Song Hong Construction (ICG) is struggling to achieve its modest VND18 billion ($849,000) profit target this year.

In the third quarter, the company saw a loss of VND1.7 billion. It expects to sell apartments at only one project in the fourth quarter, which the company's director Nguyen Thanh Tung said would not be enough to help his firm gain the anticipated profit.— VNS

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