Vicem Hoang Mai Cement revises down 2012 profit

Vicem Hoang Mai Cement JSC (HOM), listed on the Hanoi Stock Exchange, said it made an estimated pretax profit of VND66bn (US$3.17m) in the first 10 months of this year, according to Chief Accountant Tran Minh Son said.

HOM did not give revenue figures in Jan-Sept, the Dau tu Chung khoan newspaper reported. High prices of input materials were blamed for the company’s profit fall, Son said. The company plans to revise down its 2012 profit target.

In Jan-Sept, HOM made a net profit of VND54.58bn on revenues of VND1.06trn, down 30.67 per cent and up 3.92 per cent YoY, respectively. The nine-month earnings per share was VND788.

HOM is now carrying out a plan to build Hoang Mai 2 cement plant at a cost of VND6bn, with a designed capacity of 4.5Mta.