Vicem But Son Cement posts nine month loss

Vietnam cement producer Vicem But Son Cement JSC said it made a loss of VND65.78bn (US$3.16m) in the first nine months of this year, compared to a net profit of VND6.99bn in the same period last year.

Revenues rose 1.59 per cent YoY to VND1.92trn in Jan-Sept, BTS said in its quarterly financial report.
In the third quarter alone, the company suffered a loss of VND68.91bn on revenues of VND581.53bn, versus a net profit of VND3.89bn on revenues of VND685.1bn in the 3Q11.

The company had total short- and long-term debts mounting to VND3.3trn as of 30 September. Japan JBIC is But Son Cement's biggest creditor with a long-term loan of VND1.46trn.