Building material maker Viglacera records $86 mln profit in 9 months

Viglacera, Vietnam's leading manufacturer of building materials, has estimated a consolidated pre-tax profit of VND2,057 billion ($86 million) in the first nine months of the year, up 97% year-on-year.

Its consolidated pre-tax profit exceeded the year's plan by 21%, the company reported at a meeting held to review performance of the first nine months.

For 2022, Viglacera has set consolidated pre-tax profit target of VND1,700 billion ($71 million).

In the fourth quarter, Viglacera said it would continue to focus on industrial real estate development, creating conditions for expansion of existing industrial parks and development of new ones and housing projects for 2023 and subsequent years.

The company’s glass making segment has seen stable production, with maximum exploitation of the capacity of factories and sustained profit margins.

The construction material segment, including sanitary ware and ceramic tiles, would focus on high-value products, expanding the domestic market and promoting exports to the U.S. and the EU.

Viglacera is listed on the Ho Chi Minh City Stock Exchange (HoSE) as VGC. VGC shares closed Wednesday at VND53,500 ($2.23) each.