September 19, 2012

Vietnamese fertiliser producer LAS' H1 2012 net profit up 51.43% 

In the first six months of 2012, Vietnam's Lam Thao Fertilisers and Chemicals Joint Stock Co. (LAS), said it made an audited net profit of VND260.09 billion (US$12.5 million), soaring 51.43% from a year earlier.

Revenues rose 49.48% on-year to VND2.87 trillion (US$138 million), the company said in its audited quarterly financial report. Those from financial activities increased 23.13% on-year to VND7.88 billion (US$378,000).

Despite prime costs rising to VND2.3 trillion (US$110 million), the company's gross profit went up 28.75% on-year to VND560.33 billion (US$27 million), which was attributed to the company's profit growth.

The six-month earnings per share was VND4,812 (US$0.23), versus VND3,972 (US$0.19) last first half of the year.

Its total assets were VND2.1 trillion (US$101 million), including equity of VND1.1 trillion (US$53 million) at end-June.

This year, LAS targets a net profit of VND285 billion (US$14 million) on revenues of VND4.2 trillion (US$202 million) and a dividend pay-out equivalent to at least VND2,000 (US$0.10) per share.