Vietnam Rubber Group eyes higher profits

09:32 | 01/03/2018 Companies

The Vietnam Rubber Group (VRG) targets an 8 percent rise in revenues and 33 percent rise in pre-tax profits this year, VRG Deputy General Director Nguyen Tien Duc has said.

At the meeting - Photo: dkn.tv

At a recent meeting held in Ho Chi Minh City on February 6th to review last year’s performance and discuss this year’s targets, VRG settled for a revenue and profit targets of 23 trillion VND (US$1 billion) and 5.5 trillion VND (US$242 million).

Last year it had achieved 120 percent and 136 percent of the corresponding targets.

It expects its core business, natural rubber, to be the main source of revenue, accounting for 15.5 trillion VND.

VRG also generates income from its industrial zones, wood business and manufacture of rubber products.

VRG plans to list on UPCoM as early as April and on the HCM Stock Exchange in June or July.

It is also hoping to sell another 11.88 percent of its equity to strategic investors, some 50 million shares to its employees and 830,000 shares to its trade union.

Theo VNA