Hoa Binh rubber processor achieves 15b dong in Q1 pre-tax profit

Hoa Binh Rubber Joint Stock Co (coded HRC) reported that until March 31, its revenue is estimated at 55 billion dong and pre-tax profit gained 15 billion dong, decreasing 24.6% and over 46% compared to the same period of last year.

The company’s rubber selling price in the first quarter of 2009 averaged at 17.8 million dong per tonne, lower than the planned level of 20 million dong per tonne.

By last December 31, the company’s volume of stockpiled rubber was 1,230 tonnes with a price of nearly 20 million dong per tonne at that time. HRC also imported extra 793 tonnes and sold out 1,622 tonnes, leading the end-period balance of 402 tonnes. If the price of rubber latex stands at 28 million dong per tonne, HRC’s profit in 2009 could be 53 billion dong against the whole year’s 40 billion dong.

 

Category: Finance