Dong Nai Garment Co lowers profit target to 7b dong

Dong Nai Garment Joint Stock Co decided to keep the revenue target at 450 billion dong but lower the profit target from eight billion dong down to seven billion dong in 2008, and not to advance the dividend for H1 of 2008 to shareholders because of the economic difficulties.

The firm will continue negotiations to issue more shares totalling 20% of the current chartered capital to strategic investors.

During the first half of this year, the company reached 214.5 billion dong in revenue, a 142% growth against 2007, and 1.33 billion dong in business profit.