At a meeting to review the financial results of Vinatex, a state owned textile and apparel manufacturer and exporter, a minister in the government urged the company to improve its value chain and operate more efficiently in 2017. Cao Quoc Hung also advised Vinatex to undertake R&D to produce value added products, while also not harming the environment.
In the period under review, sales totalled VNÐ37.7 trillion, a steep rise of 103 per cent year over year, while it reported pre-tax profits of VNÐ1.43 trillion, up 9 per cent over a fiscal ago period. In the reporting period, Vinatex invested VNÐ5.5 trillion in altogether 41 projects.At a meeting to review the financial results of Vinatex, a state owned textile and apparel manufacturer and exporter, a minister in the government urged the company to improve its value chain and operate more efficiently in 2017. Cao Quoc Hung also advised Vinatex to undertake R&D to produce value added products, while also not harming the environment.#
According to Vietnamese media reports, for the next fiscal, the group expects its export revenue to increase 12 per cent, sales by 15 per cent and pre-tax profit by 6 per cent.
“Vinatex will focus on expanding its market base in the next fiscal, maintain a close watch on the worldwide raw materials market and also take advantage of various free trade agreements,” Vinatex chairman Tran Quang Ngh? observed at the meeting.
Fibre2Fashion News Desk – India
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