September 3, 2012

Vietnam's ANV reports H1 net profit growth of 3.2%

In the first half of this year, Nam Viet Corporation (ANV) said its audited consolidated net profit slightly grew 3.2% from a year earlier to VND20.74 billion (US$997,100).

The figure is VND1.1 billion (US$53,000) lower than the unaudited profit figure.

Audited revenues increased 26.4% on year to VND915.6 billion (US$44 million) during January-June, ANV said in its audited consolidated quarterly financial report. However, those from financial activities slid 78.4% on year to VND10.85 billion (US$522,000).

Despite an increase in prime costs, its gross profit rose 91.33% on year to VND117.63 billion (US$5.7 million) in January-June, which contributed to the company's profit growth.

The six-month earnings per share were VND316 (US$0.02), versus VND306 (US$0.014) last first half.

Its total assets were VND2.26 trillion (US$109 million), including equity of VND1.41 trillion (US$68 million) at end-June.

This year, ANV targets a pre-tax profit of VND68 billion (US$3.3 million) on revenues of VND2.11 trillion (US$101.5 million), down 7.4% and up 20.57% on year, respectively, and a cash dividend of VND900 (US$0.04) per share.