Royal International net profit up 17 pct

Saturday, April 19, 2008

Royal International Joint-Stock Co. (RIC), a Taiwanese-invested company that operates a casino in northern Vietnam, said net profit increased 17% to US$3.5 million in 2007, buoyed by a surge in visitors to the casino.

Net income rose from $3 million in 2006, the company said Friday in a news release.

Revenue reached almost $10 million in 2007, up from $9.4 million.

“The casino received alot more visitors, mostly from overseas,” the company said.

Royal International, based in the northern coastal tourist city of Ha Long, said it expects profit to triple to $10 million, and revenue to double to $20 million in 2008.

The stock dropped VND800, or 2%, to close at VND40,200 Friday. (Bloomberg)