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Vietnam's Garco 10 beats annual revenue target in 2016
05
Jan '17
Garment 10 Corporation JSC (Garco 10), one of the largest companies in Vietnam’s textile and garment sector, has grossed total estimated revenue of 2.9 trillion dong in 2016, registering an increase of 6.42 per cent year-on-year, and crossing its annual target by 2 per cent. The company is targeting to increase its revenue by 6 per cent this year over 2016.

In 2016, Garco 10 contributed around 59 billion dong to the nation’s budget. This amount was 24 per cent higher than the amount paid in the previous year, according to Vietnamese media reports.

This year, the company is aiming to earn revenue of 3.1 trillion dong, and thereby make a profit of 62.5 billion dong. For this, the company will take initiatives to adopt austerity measures, prioritise product quality, improve labour productivity and enhance corporate governance.

Employing over 9,000 persons, Garco 10 produces around 21 million pieces annually, of which more than 80 per cent are exported, mainly to the US, the EU, Japan and Hong Kong. (RKS)

Fibre2Fashion News Desk – India


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