GMC adjusts dividend payment rate from 12pct to 22pct

VNStockNews.com - Southern bourse-listed Saigon Garment Trade and Production Joint Stock Co (coded GMC) has reported earning production revenue in December 2009 of $2 million and business revenue of about $1.55 million, equal to 27 billion dong.

Therefore, the company's accumulative revenue last year was estimated at 383.7 billion dong, equivalent to 103 percent of the proposed year plan.

GMC's pre-tax profit in December was posted at 1.5 billion dong, raising the progressive pre-tax profit from Jan-December of 42 billion dong, surpassing 27 percent of 2009 year plan.

In the first half of 2010, the company plans to export its products for traditional customers of Decathlon (France), New Wave (EU and Sweden), Columbia (the US and Canada), Asmara (Germany), Ecomill (Australia, New Zealand), N.I.T.S (Japan), Zydy (Japan, Taiwan), Fashion Line (the US). In addition, the company supplies large amount of products with trademark of Blue Exchange in domestic markets via its large distribution network of 80 shops nationwide.

At present, the company has already signed contracts for 80 percent of its production capacity. The rest 20 percent will be negotiated by the company in the coming months.

The company's management board has recently adjusted the 2009 dividend payment rate from 12 percent to 22 percent.