Vicem Hoang Mai Cement posts first-quarter loss

Vicem Hoang Mai Cement JSC (HOM) has posted a first quarter loss of VND10bn (US$476,100) attributed to increased costs.

The company closed 2012 with a net profit of VND112.72bn (US$5.39m) on revenue of VND1.53trn last year, down 13 per cent and up 8.07 per cent YoY, respectively.

HOM is seeking approval from its parent company, Vietnam Cement Industry Corporation o revise up its 2013 pretax profit target by 4.65 per cent to VND90bn (US$4.29m) from the initial VND86 billion.