Vicostone Joint Stock Company, member of Phenikaa Group, is targeting 20.1 per cent and 15.1 per cent in net revenue and pre-tax profit respectively to nearly VND6.8 trillion (US$292 million) and VND1.9 trillion ($83 million) in 2021.
These figures were announced at the company’s Annual General Shareholders’ Meeting 2021 held in the capital late last week. The shareholders attending the meeting hold more than 143 million shares, representing 89.64 per cent of the total voting shares.
The company will focus on enhancing research and development activities to create new products, improving market competitiveness based on the advantage in science and technology while expanding production and better control expenses.
Top priority will also be given to connecting other members in the Phenikaa Ecosystem for added values and benefit and broadening the culture and values as well as balancing the interests among all stakeholders.
Vicostone earned VND5.66 trillion worth of total net revenue and VND1.67 trillion worth of pre-tax profit tax in 2020.
Last year, it sought further penetration in new markets in addition to existing ones such as North America, Europe and Asia. The exploration of new markets helped strengthen the presence of Vicostone in more than 50 markets across the world.
In 2020, Vicostone became the third largest engineered countertop supplier to the global market, according to the US research firm Freedonia, and that was a strong confirmation and recognition of VICOSTONE® in both domestic and international markets.
Thanks to the postive business performance, Vicostone planned to distribute a 40 per cent dividend for 2020, including cash and bonus shares, to fulfill its commitment to the shareholders. — VNS