Refrigeration Electrical’s Q1 net income falls 30 percent

Refrigeration Electrical Engineering Joint-Stock Co., a maker of air conditioners and electrical appliances, said first-quarter net income fell 30 percent on slumping sales.

Profit slid to VND77.4 billion (US$4.4 million) from VND110.7 billion in the same period last year. Revenue dropped 47 percent to VND146.6 billion, according to a statement on the company’s website.

thanhnien, Bloomberg

>   ACB Securities targets $19.3 million pretax profit this year (01/05/2009)

>   Bien Hoa Sugar expects profits this year (01/05/2009)

>   Volatility seen for stocks  (01/05/2009)

>   Insurer Bao Viet to list shares in HCM City (01/05/2009)

>   Index packs points for the holidays (01/05/2009)

>   Fund managers looking before they leap (30/04/2009)

>   HCMC stock exchange set to ring in the changes (30/04/2009)

>   HSBC in talks to increase stake in Bao Viet Insurance (30/04/2009)

>   Sacombank Q1 net profit down 17 percent (30/04/2009)

>   Developer taps bond underwriter (30/04/2009)