Ha Tien 2 Cement 2010 pretax profit likely to fall, Vietnam

Ha Tien 2 Cement 2010 pretax profit likely to fall, Vietnam
Published: 11 May 2010

Ha Tien 2 Cement JSC said Monday its pretax profit this year is expected to fall 40% to VND105bn (US$5.5m) from VND176.3bn last year due to higher production and financial costs.

In a statement filed to the Hochiminh Stock Exchange, the cement producer said it expected to spend 23% more on coal this year and 30% more on electricity than it did last year.

The company also said its financial costs were expected to increase 133% from last year.

Ha Tien 2 said it has a target full-year revenue of VND2.1trn, compared with VND1.58trn reported last year.