BMI targets at 200b dong after tax profit in 2008

Bao Minh Joint Stock Corp (coded BMI)’s shareholders’ meeting held recently passed the plan to reach the growth rate of 7.5% in revenue to 1.85 trillion dong and 200 billion dong from after tax profit, a year on year increase of 38%.

Last year, BMI raised its chartered capital from 434 billion dong to 755 billion dong and signed strategic agreements with France-based AXA Insurance Group and the US-based Chubb Group. In 2007, Bao Minh was also licensed to set up its subsidiary named Bao Minh Securities Co.

In the fourth quarter of 2007, BMI posted 317.3 billion dong in revenue, bringing the total revenue for the whole year to over 1.15 trillion dong and their after tax profit posted at 17.8 billion dong in the last quarter of 2007, marking the total figure for the whole year to 141.5 billion dong, a 41% increase against 2006. The company’s EPS was at 1,874 dong per share last year.

 

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