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Listed companies design ‘modest’ business plans
Vietnam is expected to continue to feel the effects of the world economic turmoil this year, prompting many listed companies to set “modest” revenue and profit targets.
Le Quang Hung, chairman of Saigon Garment Manufacturing Trade Joint-Stock Company, known as Garmex Saigon, said the company expected to earn VND420 billion (US$24 million) in revenue this year, lower than the target of VND450 billion ($25.8 million) set last October and the same as last year’s earnings. Hung said the profit, meanwhile, may be less than last year’s VND22 billion ($1.3 million).
Do Van Ngoc, general director of General Materials and Biochemistry Fertilizer Joint-Stock Company, said the firm estimated the company’s revenue would be VND1 trillion ($57.2 million) and pre-tax profit would be between VND28 billion and VND32 billion ($1.6-1.8 million), compared to last year’s target of VND32 billion.
“The company’s 2009 aim is to retain its market share,” said Ngoc.
HCMC-based Garmex Saigon’s Hung said a plan to invest in the VND20 billion ($1.1 million) second stage of Tan My Factory in southern Ba Ria-Vung Tau Province and a joint project to build a commercial building on HCMC’s An Duong Vuong Street had to be delayed because of the current economic climate.
A listed firm director in HCMC said raising capital from shareholders or taking bank loans remained difficult, so most companies had to focus on maintaining sales in order to sustain production and retain their staff this year, and only proceed with projects already underway.
Mai Phuong
thanh nien
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