Thanh Cong Textile and Apparel Joint Stock Company (TCM) has posted a pre-tax profit of VND62.32bn (US$3.89m) for the first half of the year, a rise of around 476% over the same period last year.

Turnover in the period, meanwhile, was up 109% to US$35.35m, largely due to expanding textile, finance and real estate operations.

The Ho Chi Minh city-based company has set full-year targets of US$85m in turnover and US$3.5m in net profit, and for a net profit of US$4.2m in 2008.

The company today (15 October) listed 18,982,497 shares at Ho Chi Minh city Stock Exchange.

By Ngo Tuan.