Phuoc Hoa Rubber Corporation aims for revenue of over VND 1,200 billion in 2019

March 26, Phuoc Hoa Rubber Corporation (PHR) held its annual general meeting.

Last year, despite the abnormal situation of production and rubber price in the world market, PHR still exploited 13,109 tons of dry latex. Besides, the company purchased nearly 20,000 tons of dry latex. This is the 8th consecutive year the company has a production of over 10,000 tons, processing output reaches more than 31,400 tons of finished latex products of all kinds. Total consolidated revenue of the whole company in 2018 was over VND 2,143 billion, profit after tax was VND 628.3 billion, up 93% compared to 2017.

From favorable production and business results, PHR decided to pay dividends for the whole 2018 year with 20% par value. PHR stock price on Ho Chi Minh City Stock Exchange (HOSE) at the end of the session on March 26 is 46,900 dong, nearly doubled compared to the beginning of 2018. The Annual General Meeting of shareholders agreed on the operational plan, production and business activities in 2019 with important criteria, such as mining output of 11,700 tons, purchasing volume of 12,500 tons, total parent company revenue of VND 2,192 billion. Notably, the meeting passed the parent company 's pretax profit target very high, up to VND 1,246 billion and a large dividend of 2019 or 40% of par value.

Reported by Khanh Vinh – Translated by Vi Bao