Third Quarter Meeting of The Department of Granite & Ceramic Tiles, Sanitary Wares, and Trade: First 9 months of 2016, all units reach and meet over targets of profits and revenues

In the morning of 04 October 2016, Viglacera Corporation JSC organized a meeting with the Department of Granite & Ceramic Tiles, Sanitary Wares, Showers and Faucets and Trade. Business results are positive, with 9 out of 11 units has reached and met over the targets of profits and revenues. Especially Viglacera Showers and Faucets Company has successfully reached the profit target of 2016.

The business result of 9 months of the whole Department is 24,397 billion VND of profit, accounting for 103.5% the monthly plan target, 3rd quarter profit of 68,071 billion VND, standing at 100.6% the quarterly plan target. Accumulated profit of 9 months is 155.1 billion VND, reaching 85% annual plan, increasing 38.7 billion VND compared to the same previous period. The revenue of the 9 months reached 578.5 billion VND, accounting for 107% month plan, 3rd quarter revenue was 1,612,352 billion VND, achieving 100% of the quarterly plan target. Accumulated revenue of 9 months reached 4,218 billion VND, increasing 16% on year-to-year basis.

Under a strong and specific leadership of the Corporation, operation outcomes of units within the Department have been aligned with monthly and quarterly targets. Production met the need of orders by trade units; product portfolio and designs have been adjusted and diversified, in line with market demands. The quality of material inputs has been gradually controlled; labor inefficiency has been reduced due to further investment in units in follow up with set plans. Product quality has been maintained; particularly tile products have had positive improvements. Their quality is stable and met the basic standard TCCS; First burning defect ratios of Viglacera Thanh Tri JSC and Viglacera Viet Tri JSC after changing to usage of compressed natural gas (CNG) all meet the targeted ratios committed; natural gas consumption is reduced by 10-15% compared to using liquefied natural gas (LPG). Purchase and checking of input materials have been implemented as planned; quality control have been well implemented with sampling, independent assessment by R&D Institute of Viglacera, timely finding defects with assessments and recommendations.

In the 3rd quarter of 2016, market and product development has been in focus, advertising boards and shelves have been redesigned and consolidated to give customers new images of products and quality of Viglacera. Customer meetings have been held in individual markets to expand markets and exports.

As regards investment, My Xuan A Premium Ceramic Plant Project has completed the process of establishment and operation regulations of project management unit; recruitment, strengthening of human resources to ensure sufficient capacity to implement the project; focusing on completing investment procedures and project design profile; construction license procedures, fire safety and prevention for the project; continuing to work with banks on evaluation of project loan documents; implementing the building of boundary walls and plant gates; The project of changing to CNG at Tien Son plant: completed and operated two kilns since 18 August 2016. The project of intensive investment in packaging system of package and brake pads joint stock company has carried out procurements of facilities and assembling; basically the progress is on track and expected to have project completed and operated by December 2016.

Delivering speech at the meeting, DG Nguyen Anh Tuan expressed the importance of new product development and requested the Department to make a detailed plan including specific progress milestones and soon select a good and reliable technology partner for cooperation in the long term. The DG also requested the Department to soon establish a processing plant, negotiate to have a stable source of input materials with good quality, increasing lead-time, ensuring input materials with standard quality to produce premium products, confirming prestige and brand name of Viglacera not only in the country but also in the region and the world. In addition, the Department needs to enhance recruitment and training to have good technicians, making high quality human resources available for projects soon implemented.

A general assessment of the Department of Granite & Ceramic Tiles, Sanitary Wares and Trade was that it has maintained a good momentum during the past 9 months. However, all units need to pay great attention to implementing the plan for the last 3 months of the year. It is required that all units resolve to undertake specific and effective solutions and proposals to gain overall achievements and meet over the targeted goals.

Some speeches made at the meeting: