MCG targets 54b dong profit after tax in 2010

VNStockNews.com - Vietnam Mechanisation Electrification & Construction Joint Stock Co (coded MCG) has recently announced that the company targets to earn 842.5 billion dong of revenue and 54 billion dong of profit after tax in 2010.

At present, the company is investing in some hydropower projects such as Suoi Choang hydropower in the central province of Nghe An with a total investment of 74 billion dong, Nam Hoa hydropower (583 billion dong) Van Chan hydropower in the northern province of Yen Bai (1.417 trillion dong).

In addition, the company is also investing in other projects like Van Lam mechanical factory in the northern province of Hung Yen with a total investment of over 103 billion dong, Thau Dau water reservoir in Khe Luy (238 billion dong), Luong Son stone mine exploitation in the northern province of Hoa Binh (58 billion dong).

In 2009, MCG reached 685.37 billion dong of revenue, down 15.4 percent year-on-year and 64 billion dong of pre tax profit, up 184.4 percent y-o-y and nearly 52 billion dong of after tax profit.