VnSteel’s pre-tax profits expected to hit 200 billion VND
The Vietnam Steel Corporation (VnSteel) expects to disburse 454 billion VND (20 million USD) in investment and earn 200 billion VND (8.8 million USD) in pre-tax profits in 2017.
Hanoi (VNA) – The Vietnam Steel Corporation (VnSteel) expects to disburse454 billion VND (20 million USD) in investment and earn 200 billion VND (8.8million USD) in pre-tax profits in 2017.
Theinformation was released by chairman of the VnSteel board of directors NghiemXuan Da at the corporation’s annual stakeholders meeting in Hanoi on April 25.
Da saidthis year, VnSteel will take drastic measures to update market information, reduceproduct prices, completing distribution network, promote VnSteel trademark andimprove its position on the market.
Thecorporation will also accelerate its approved restructuring plan, concentratecapital on key production and business operations and give financial support toits subordinate companies.
A reportdelivered at the meeting showed that last year, VnSteel’s earned 17.85 trillionVND (786.3 million USD) in consolidated net revenues, 948 billion VND (41.8million USD) in pre-tax profits and 834.6 billion VND (37 million USD) inpost-tax profits.
Thecorporation produced 2.07 million tonnes of steel billets and 3.99 milliontonnes of steel products last year, up 25 percent and 19 percent year on year,respectively.
Its steelsales reached 4 million tonnes, exceeding the target by 13 percent and up 24percent year on year, of which 3.15 billion tonnes are construction steel.-VNA
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Illustrative image (Source: VNA) 
