Annual shareholders meeting told of targets for 2015 and beyond.
The Song Hong Joint Stock Corporation aims to record revenue of VND2.6 trillion ($120.9 million) this year and profit of VND22.2 billion ($1.04 million), its annual shareholders meeting was told. It will continue to promote its restructuring, divesting all State capital and simplifying its management to increase workplace productivity and production efficiency.
The corporation also approved the basic development targets for the 2015- 2020 period at the meeting. Total equity is to increase from VND270 billion ($12.7 million) to VND350 billion ($16.4 million) this year. From 2016 to 2017 it will reach VND500 billion ($23.5 million) and, in 2020, VND800 billion ($37.2 million). After 2020 it aims for VND1 trillion ($47 million).
Total production value from 2016 to 2020 is targeted at VND29.2 trillion ($1.4 billion), an increase of 62 per cent compared to the 2010- 2015 period. Total revenue is to see growth of 66 per cent, to VND18 trillion ($841.1 million), while profit is to reach VND384.87 billion ($18.1 million).
In 2014 its total production value was VND3.3 trillion ($153.5 million), with total revenue of VND2 trillion ($95.3 million) and profit of VND11.67 billion ($542,790). Average monthly incomes were VND4.8 million ($223.3).