Bibica Reports Revenue up 20 per cent in 2006
The Bien Hoa Confectioner Company (Bibica) obtained VND350 billion (US$21.87 million) in revenue in 2006, a growth of 20 per cent from 2005, the company reported on January 18.
The company posted 2006 pretax profit of VND15 billion (US$937,500), up 14.6 per cent on year.
Bibica has decided to rename itself the Bibica Corporation. It is now one of two confectioners listed on Vietnam’s stock exchange with listing volume of 8.99 million shares, equivalent to its registered capital of VND89.9 billion.
In 2007, the firm plans to invest VND178.9 billion (US$11.2 million) to build a new factory in Binh Duong Province. This plant will be built on area of 40,000sq.m with annual capacity of 2,500 tons, specializing in sponge cake and foodstuff.
The new plant is expected to generate additional revenue of VND93.6 billion (US$5.85 million) and profit of VND10.94 billion (US$683,750) each year. (Securities Investment Jan 18 p4)
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