VIETNAM: Vinatex profits soar during 2007
Vietnam National Textile and Apparel Group, Vinatex, is expecting to post profits of VND521.75bn (US$32.6m) for the full-year 2007, representing an increase of 250% compared to the prior year.
The profits of textile groups Viettien and Phong Phu Corp accounted for nearly 50% of total earnings for Vinatex.
Vu Duc Giang, general director of Vinatex, said: "Enteprises have been trying to carry out restructuring, improving financial capacity and management, as a result they have been gradually reaping good operation results and tending to better and stable operation."
Vinatex is set to implement three projects over the coming year, including a $18.2m textile plant development by Phong Phu at Da Nang city.
By Ngo Tuan.
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