Casumina 2009 Profits Exceed All Expectations

The Southern Rubber Industry Joint Stock Company, better known by its trading name Casumina, reports attaining sales of 2,496,309 million dong (£84.0 million) during 2009, up 116.17 per cent on the previous year’s sales and 146.37 per cent more than expected sales for the year. The Vietnamese tyre maker’s after tax profit totaled 290,642 million dong (£9.8 million), a whopping 3,240.5 per cent higher than in 2008 and 664.33 per cent greater than the year’s expected after tax profit.

Explaining the much better than anticipated sales and profits, Casumina says that estimates were made in light of a difficult economic context, however stimulus policies and greatly reduced raw material prices during the year worked in the company’s favour.

Regarding plans for 2010, Casumina states it intends to complete a feasibility study report on the production of all-steel passenger car tyres.