VNStockNews.com - International Food Joint Stock Co (HOSE-listed IFS) has decided to cancel listing on the southern bourse.
Its board of director also decided that arising profit in 2011 would be used to offset losses of previous years and add to the company's working capital. IFS will not declare and allocate dividend of 2010.
In the first quarter of 2011, the company reached 263.8 billion dong in net revenues, down 3 percent year-on-year. It also saw a profit of 5.3 billion dong in financial activities, against a loss of 6.7 billion dong in the same period of last year.
But due to highly increased costs, its aftertax profit declined 38 percent to 11.6 billion dong.
This year IFS targets to reach total revenue growth of 22 percent and pre-tax profit equaling to 2 percent of revenues.
In the latest shareholder meeting of IFS, Michio Nagabayachi will replace Pang Tee Chiang as CEO of IFS.
On May 27, IFS closed up 13,200 dong per share, or 4.76 percent against the previous session.
