Ha Tien 1 Cement JSC (HT1) said its net profit jumped to VND250.36bn (US$11.64m) in the first quarter of this year, from VND2bn in the same period of 2014, thanks to an increase in financial incomes and a decease in financial costs.

Vietnam's largest cement maker by market capitalisation, said net revenue fell 4.25 per cent YoY to VND1.6trn in the January-March period, HT1 said in its quarterly financial report. Earnings per share over the three month period was VND787.

Its financial incomes skyrocketed to VND191.55bn in the period, from VND5.6bn from the same period of last year. Its financial costs dropped 54.23 per cent YoY to VND116.92bn.

At the end of March, HT1 had combined liabilities of VND8.66trn, including VND4.85trn in long-term debt. The firm did not provide details on its EUR-denominated loans.