State-owned Vietnam Cement Industry Corp (Vicem) reported sales of 26.6Mt of cement and clinker in 2017, representing a YoY increase of three per cent.

Of the total, 23.6Mt were delivered to the domestic market, up four per cent YoY and a further 3Mt were exported.

However, the company saw a five per cent fall in revenues to VND34.16tn when compared with the previous year. The cement producer’s profit increased seven per cent to VND2.85tn. The company contributed VND1.62tn to the state budget in 2017, according to Viet Nam News.

Going forward, Vicem expects to produce 19.7Mt of clinker in 2018, a YoY increase of two per cent, and a four per cent rise in sales to more than 28Mt of cement and clinker. Target revenues have been set at over VND37tn with a profit of VND2.9tn-3tn. The company’s contribution to the state budget is expected to reach VND1.65tn in 2018.

To help realise these targets, the producer will support its affiliates in mapping out development targets, expanding markets and restructuring products to lift production. Vicem will also focus on developing high-efficiency products to reach the market share target, according to General Director Bui Hong Minh. To enable this, the company has signed agreements with 10 affiliates to promote the sale of cement products.