[23 Dec] Danang Rubber Ups '09 Pretax Profit Forecast to VND350 Billion

Danang Rubber JSC said Tuesday that it has raised its pretax profit forecast for 2009 to VND350 billion ($18.9 million) from VND300 billion.

The company said it will use most of its profit this year for a $140 million project to produce radial tires, with a capacity of 600,000 tires a year.

The project, to be operational from end-2011, will generate revenue of VND2 trillion a year, it said in a statement filed to the Hochiminh Stock Exchange.

The company added that it will pay a cash dividend of VND1,500 a share on Friday.

(Source: irco.biz)