Vinatex targets 12 percent growth in profit in 2019
The Vietnam National Garment and Textile Group (Vinatex) eyed a 12 percent increase in profit this year despite various challenges arising from the US-China trade war, Vinatex General Director Le Tien Truong said.
Hanoi (VNA) – The Vietnam National Garment and Textile Group(Vinatex) eyed a 12 percent increase in profit this year despite variouschallenges arising from the US-China trade war, Vinatex General Director LeTien Truong said.
At the corporation’s annual shareholders’ meeting recently held in Hanoi,Truong stated that Vinatex is striving to earn more than 22.18 trillion VND (954.8million USD) in total revenue, and 839 billion VND (36.12 million USD) inpre-tax profit.
Besides, Vinatex expected the export turnover to expand 6-8 percent, andindustrial production value to increase 5 percent from the previous year, headded.
Laying stress on the fluctuations of the global economy in 2018 due to tradetension, fierce competition and increasing protectionism, Truong said that theVietnamese garment and textile sector had overcome challenges to become theworld’s second largest exporter by shipping 36 billion USD worth of products overseas.
Vinatex also had a successful year 2018 as its revenue totalled nearly 20.24trillion VND (871.32 million USD) while pre-tax profit was estimated at 761.4billion VND (32.77 million USD), he highlighted.
In the year, the corporation’s dividend payout ratio was 6 percent, which meansit paid total 300 billion VND (12.9 million USD) in dividends for itsshareholders.-VNA
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A worker at Vinatex plant (Photo: VNA) 
