Ngoprexco: Q1 after-tax profit sharply drops

In Q1/2010, Ngoprexco produced 271MT of finished products, sold 258MT of products, equivalent to 109 percent, and 107 percent respectively compared with Q4/2009, the company’s business report told.

Also in Q1/2010, Ngoprexco’s export value amounted to US$1.26 million, accumulative revenue of VND26.8 billion, up 20 percent over Q4/2009. However, its after-tax earning netted only VND432.73 million, much lower than VND896 million reported in Q4/2009, and VND993 million gained in Q1/2009.

Ngoprexco attributed after-tax profit decrease to increased material costs and rose financial expenses.

Ngoprexco