Construction material maker Viglacera’s profits hit 1 trillion VND for first time


Hanoi – Construction material manufacturer Viglacera Corporation (VGC)’s pre-tax profit hit a record high of more than 1 trillion VND (44.3 million USD) in 2017 for the first time, the company recently announced.

The company’s revenue in the year totalled nearly 16.5 trillion VND (727.1 million USD), up 2 percent against the yearly plan and 13 percent higher than the previous year’s result.

VGC’s strong performance was buoyed by significant contributions of its members like Viglacera Float Glass Company, Viglacera Ha Long Joint Stock Company, Viglacera Infrastructure Development and Investment Company and Viglacera Real Estate Company.

Also in 2017, the corporation put up 120 million shares coded VGC for sale. Under the Employee Stock Ownership Plan, the company increased its chartered capital to 4.48 trillion VND (197.3 million USD) and reduced state ownership to 53.97 percent by the end of 2017.

This year, the company eyes a 6 percent growth in pre-tax profit and plans to make a 9 percent dividend payout.

Source: VNA

Photo: Viglacera