Cooking oil producer Tuong An Vegetable Oil Joint Stock Company (TAC) targets to gain revenue of nearly VND4.4 trillion in fiscal year 2017.

At the annual shareholders’ meeting on Wednesday in HCM City, the company said it would aim for before-tax profit of VND165 billion in 2017 and dividends of 16 per cent.

To reach the target, the company will strengthen their management ability.

TAC reached revenue of VND4 trillion for fiscal year 2016, a year-on-year increase of 11 per cent. This result represented 106 per cent of the annual target.

The before-tax profit last year was VND84 billion, equivalent to 103 per cent of the annual target.

Last year was a significant one for TAC as it officially became a member of the food producer KIDO Group.

TAC, established in 1977, has two manufacturers, which are equipped with modern technologies imported from the EU, Japan and the US.

The plant in Vinh City in the central province of Nghe An covers 37,000sq.metres, while the one at Phu My Port is 80,000sq.m, with a capacity of 810 tonnes per day. — VNS