The northern bourse-listed Bac Viet Steel Joint Stock Co (coded BVG) has recently released the Q4 business reports with net profit of 483.5 million dong, raising the accumulative profit for the whole year to 2.65 billion dong, a sharp decline of 85 percent against that of last year of 18.79 billion dong.
In Q4, BVG reported earning net revenue of 184.76 billion dong, up 44 percent year-on-year, but after tax profit of 483.5 million dong, compared to the same period last year of 1.9 billion dong.
For the whole year, the company posted accumulative revenue of 618.28 billion dong, increasing by 44 percent against 2009, of which the principal sales cost counted for 575.35 billion dong, resulting in combined profit of 43 billion dong, down 10 percent.
The company’s financial activities in 2010 brought in revenue of 181 million dong, but financial cost rose sharply by 185 percent to 21.67 billion dong.
Therefore, by the end of 2010, BVG gained net profit of 2.65 billion dong only.