February 27, 2012

Vietnam fertiliser maker LAS earns VND295.47 billion in 2011

Lam Thao Fertilizers and Chemicals Joint Stock Co. (LAS) saw a 2.7% increase in profits last year, bring the net profit to VND295.47 billion (US$14.07 million).

Revenues increased 12.4% on year to VND4.06 trillion, LAS revealed in a consolidated quarterly financial report.

The full-year earnings per share was VND5,467, versus VND6,654 in 2010.

In the fourth quarter, the company made a net profit of VND66.13 billion on revenues of VND707.1 billion, down 59.8% and 23.7% on year, respectively.

High management costs were attributed to the company's profit fall last Q4.

At end-2011, its total assets rose 19.5% from end-2010 to VND2.22 trillion, including equity of VND864.14 billion.

LAS will debut all 54.05 million shares in Hanoi Stock Exchange (HNX) at a starting price of VND17,000 each on March 1.