Posted on 31 Mar 2009
The AGM of Viet Italy Steel Joint Stock Co (VIS) was held on 28 March to summarise the economic performance of 2008 and approve the 2009 business plan.
Last year, the steel maker reached an after-tax profit of 134 billion dong, up 112 billion dong year-on-year and the EPS of 8,958 dong. In the four quarter it earned 47.7 billion dong in after-tax profit.
In 2008, the company privatised and transformed Hai Phong Steel Refine One Member Ltd Co to Song Da Steel Refine Joint Stock Co with total capacity of 400,000 tonnes of steel billet a year and raised the member company's chartered capital from 100 billion dong to 200 billion dong (of which 51% held by
VIS's 2009 steel production output and sales are targeted at 171,200 tonnes, growing 10,000 tonnes from 2008 and the capacity of producing rolled steel will be hiked to 200,000 tonnes by 2010, 230,000 tonnes by 2011 and 240,000 tonnes a year from 2012. The company targets to gain 1.622 trillion dong in revenue and 25.34 billion dong in pre-tax profit this year.
