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Hau Giang Pharmaceutical profit rises 8.5 percent
Hau Giang Pharmaceutical Joint-Stock Co., Vietnam’s biggest publicly traded drug maker, said net profit rose 8.5 percent in the first quarter after it restructured its product portfolio and cut costs.
Net profit rose to VND40.7 billion (US$2.3 million) in the January-March period, compared with VND37.5 billion a year earlier, the company said in a statement posted on its website.
“In the first three months, our company restructured our products portfolio, focusing on products which are highly profitable,” Le Thi Hong Nhung, a finance official, said from Can Tho, the Mekong Delta’s commercial center, where the company is based. “We also slashed all unnecessary costs to cope with the global recession,” she said.
Revenue fell to VND379 billion from VND382 billion in the same period last year, according to the statement.
The company’s shares Thursday fell 1.7 percent to close at VND118,000.
thanhnien, bloomberg
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