Tien Phong Plastic pays 30% dividend

Monday, April 28, 2008
Shareholders of the Thieu nien tien phong Plastic JSC (Tifoplast) agreed on a 30% dividend for 2007 at the annual shareholders’ meeting on April 26.
Last year, the company’s total revenue hit VND 905 billion, up 12.9% compared to the targeted figure with a total production of over 33,000 tonnes, up 15% year-on-year.
Total after-tax profit hit VND 125.4 billion, up 5.5% compared to 2006’s figure.
According to Hoang Van Ngoc, chairman of the Management Board and General Director of Tifoplast, last year the company poured strong investment in modernising equipment and increasing production capacity from 30,000 tonnes a year in 2006 to 35,000 a year in 2007. At the same time, the company has also expanded its distribution network with over 200 sale agents and thousands of retail shops from Da Nang northwards.
Last October, the company was licensed to build a factory to produce plastic pipe in Binh Duong and is applying for construction of a similar plant in Vientiane, Laos. The company will also move part of its current factory in inner Haiphong city to the suburban areas to expand production.

This year, the company targets a total turnover of VND 1 trillion; total production of 36,000 tonnes and an after-tax profit of VND 140 billion. (Nhan Dan)