VTC posts impressive results in the first half of the year

The company's turnover reached VND1.85 trillion (US$85.6 million), representing a 37 per cent year-on-year rise. — Photo vtc

HA NOI (Biz Hub) — Viet Nam Multimedia Corporation or Viet Nam Television Corporation (VTC) posted impressive results in the first half of the year.

The company's turnover reached VND1.85 trillion (US$85.6 million), representing a 37 per cent year-on-year rise.

Figures released during a conference held in Ha Noi yesterday to unveil the tasks before VTC in the second half of the year showed that its profit of VND81.6 billion during the six-month period amounted to 80 per cent of its target for the entire year.

VTC's subsidiary, VTC Intecom, contributed the highest turnover of VND1.23 trillion in the overall result, posting a 49 per cent year-on-year increase. The company's profit reached VND100 billion, which is much higher than VND27 billion profit it made during the same period last year.

VTC Digital reported a turnover of VND226 billion and a profit of VND33 billion, while VTC Media posted a turnover of VND45 billion and a profit of VND2.8 billion.

The corporation contributed VND222 billion ($10 million) to the State budget, posting a 54 per cent year-on-year increase and meeting 75 per cent of the year's target. It paid an average monthly salary of VND14.4 million per worker.

Dam My Nghiep, VTC's General Director, said the company's restructuring, to reduce the number of its units from 49 to eight, had contributed to the results.

Deputy Minister of Information and Communications Nguyen Thanh Hung hailed the results, which nearly reached the company's targets for the entire year, saying that this year could be the most successful of the last three years for the firm. Hung asked the corporation to focus on completing its planned tasks during the second half of the year, especially with regard to the VTC Television division.The company was also urged to link the second phase of its restructuring to the next five-year development plan. The corporation should pay attention to domestic and international regulations, especially the Trans-Pacific Partnership agreement, to develop strategic development plans, Hung said. — VNS