SCIC hits high in half yearly earnings

Tuesday, Oct 01, 2013 15:56

The State Capital Investment Corporation (SCIC) has announced its profit.— Photo

HA NOI (Biz Hub) — The State Capital Investment Corporation (SCIC) has announced before tax earnings of VND2.215 trillion (USD$107.1 million) for the first six months of this year, showing an increase of 16 per cent on last year's half-yearly earnings.

Speaking at a meeting last week, SCIC general director Lai Van Dao said that the total revenue of the first six months had reached VND2.4 trillion ($114.2), up 18 per cent from last year, while after tax earnings had reached VND1.959 trillion (USD$93.285 million), an increase of 7.2 per cent.

Dao said both revenue targets and profit growth had exceeded forecasts, while total assets at VND69 trillion (USD$3.28billion) had increased 13 fold since its establishment in 2006.

According to the State's investment corporation, it was currently managing a portfolio of more than 500 enterprises operating in various sectors, including financial services, energy, manufacturing, telecommunications, transport, consumer products, health care, and information technology.— VNS

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