TTCS board member to increase holdings

HÀ NỘI — Sugar producer Thành Thành Công-Biên Hòa JSC (TTCS) has announced a member of its management board will buy 12 million shares via trading on the stock market.

Đặng Huỳnh Ức My plans to purchase the shares between December 24 and January 22, via both order-matching and put-through transactions, the company said in a statement on Wednesday.

My previously bought 20 million TTCS shares between October 17 and November 7 to increase her ownership to 10.6 per cent from 6.56 per cent.

If she buys all 12 million shares, My will raise her stake in the firm to 13 per cent. My is also the management board chairwoman at Thành Thành Công Investment JSC, the biggest shareholder of the sugar firm.

Thành Thành Công-Biên Hòa JSC is listing more than 557 million shares on the Hồ Chí Minh Stock Exchange under code SBT. Its shares gained 0.8 per cent to end Thursday at VNĐ19,950 (US$0.87) per share.

In the financial year 2017-18 between July 1, 2017 and June 30, 2018, the sugar company earned VNĐ10.28 trillion ($451.3 million) in total revenue, up 130 per cent year on year.

The firm’s pre-tax profit rose 116 per cent year on year to VNĐ682 billion. Post-tax profit reached VNĐ545 billion.

The company plans to make an 8 per cent dividend payout for this financial year.

For financial year 2018-19, the company targets VNĐ11.5 trillion in revenue and VNĐ680 billion in pre-tax profit. — VNS