Vietnam: solid growth cements profits of $21m

Vietnam: solid growth cements profits of $21m
Published: 05 July 2007

Solid growth for Vietnam Cement Corporation (VNCC) has resulted in profits of VND342bn (US$21m).  
 
VNCC produced 7.05Mt of cement in the first two quarters and achieved 49 per cent of the company’s 2007 target. These impressive results have been achieved despite the increasing cost of oil, gas, plaster and transport.  
 
In the last two quarters, VNCC plans to produce 14.2Mt of cement to meet market demands. By modernising its internal structure, VNCC is paving the way for future strength.  
 
Transforming the company’s distribution system is reported to be the biggest change within the organisation during the last six months.  
 
In an attempt to save management costs and increase the company’s competitiveness, VNCC changed from commissioning agent into the purchaser-distributor for the four production companies in northern provinces.  
 
The corporation contributes VND270bn($16.8m) to the State Budget. 
 
VNCC has actively guided its members in developing their production, financial management and cost-saving capabilities.  
 
The corporation plans to complete the equitisation of three member companies which are the Ha Tien 2 Cement Company, Hoang Mai Cement Company and Hai Van Cement Company by the end of this year.