DPR: Resolution of the BOD
Dong Phu Rubber JSC (HOSE: DPR) announced the resolution of the Board of Directors dated October 27, 2011:
1. The Board of Directors approved profit and loss in the first nine months of 2011:
• Total revenue: VND1,279 billion
• Total profit before tax: VND559.923 billion, equal to 126% of year plan
• Total profit after tax: VND499.527 billion.
• Estimated results for Quarter 4/2011 and the whole year:
- Exploitation production: 15,000 tons, 103% of year plan
- Consumption quantity: 18,000 tons, 98% of year plan
- Average selling price: Over VND93 million/ton
- Estimated inventory: From 2,000 tons to 2,500 tons
2. The Board of Directors approved main targets for 2012:
• Exploitation production: 15,000 tons
• Average selling price: VND75 million/ton
• Average consumption price: VND48 million/ton
• Consumption quantity: 17,000 tons
• Revenue: VND1,275 billion
• Profit from rubber: VND459 billion
3. Other plans:
• Dong Phu – Kratie Rubber JSC: Plant another 1,000 hectares
• Dong Phu – Dac Nong Rubber JSC: Plant another 100 hectares
• Dong Phu Wood JSC: pay dividends (15%)
• Bac Dong Phu Industrial Zone JSC: Pay dividends (10%)
• Dong Phu Technical Rubber JSC: Stabilize production
• Senoul Project: Try to receive land in 2012
4. Stock buyback:
• DORUCO will repurchase of stock when the market price of DPR decreases to VND30,000/share.
HOSE
|