During the first six months this year, Sao Vang Rubber Joint Stock Co (coded SRC)’s profit posted a 44 fold increase in comparison with 2008′s figure.
The company’s revenue in H1 reached 503.6 billion dong thanks to the low material price.
SRC reported gaining 40 billion dong in net profit from business activities while the figure was 296 million dong in 2008.
SRC’s profit after tax was 35.32 billion dong in H1, equalling to EPS of 3,270 dong.
The company with a chartered capital of 108 billion dong is one of three big producers of tyre in Vietnam.
SRC has recently submitted document to Hochiminh Stock Exchange to list shares.
In 2009, the firm set a target of 970 billion dong of revenue and 22 billion dong of pre tax profit
To the end of June, the company fulfilled 52 percent of the year’s revenue plan and 183 percent of this year’s profit target.