Vietnam Rubber Group eyes higher profits

The Vietnam Rubber Group (VRG) targets an 8% rise in revenues and 33% rise in pre-tax profits this year, VRG Deputy General Director Nguyen Tien Duc has said.

At a recent meeting to review last year’s performance and discuss this year’s targets, VRG settled for a revenue and profit targets of VND23 trillion (US$1 billion) and VND5.5 trillion (US$242 million).

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Last year it had achieved 120% and 136% of the corresponding targets.


It expects its core business, natural rubber, to be the main source of revenue, accounting for VND15.5 trillion.

VRG also generates income from its industrial zones, wood business and manufacture of rubber products.

VRG plans to list on UPCoM as early as April and on the HCM Stock Exchange in June or July.

It is also hoping to sell another 11.88% of its equity to strategic investors, some 50 million shares to its employees and 830,000 shares to its trade union.

VNA

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