Danang Rubber Profits and Turnover Up
On April 3 Vietnam’s Danang Rubber Company released a statement announcing it anticipated a 14 per cent rise in net profit this year to 63 billion dong (US$4 million). According to company president Nguyen Quoc Tuan, revenues for the firm, which produces and retreads car, truck and OTR tyres in addition to producing bicycle and motorcycle tyres, expect their revenue to increase 15.5 per cent over last year’s figures, to 1.07 trillion dong ($680 million). These increases will result mainly from upgraded production capacity and strong export demand, especially for made-to-order tyres.
The company’s exports are expected to rise 13 per cent to $5 million, the statement added.