|
SPP: Explanation for 10 consecutive ceiling-hitting sessions
Explanation for 10 consecutive ceiling-hitting sessions of Saigon Plastic Packaging JSC (SPP) is as follow:
On 28/09/2009, Saigon Plastic Packaging JSC explained the stock ceiling hitting for 5 consecutive sessions from 09/09/2009 to 23/09/2009 as follows:
- Since July, the company’s profit increased suddenly, especially profit in July and August, 2009 increased 258% over that of the first 6 months of the year, and 62% over that of the same period of the previous year. The reason is that the company imported a new packing assembly line from Europe. It came into operation from July, 2009 and brought revenue and profit since then. With the new assembly line, capacity is higher in 2009 and profit is expected to reach VND 15 bil., surpassing 56% the planned profit in 2009.
- Besides, in recent time, with the positive macro economic development, Vietnamese securities market is better with strong increase in stock prices. Furthermore, SPP price was low at that time and the expectation of investors about the company’s development potential, the price of the company’s stock (SPP) has been hitting ceiling for 10 consecutive sessions.
hnx
|
