Vietnam's Refrigeration Electrical Engineering Co. (REE) said on Wednesday its pre-tax profit jumped 55.6 percent in the first seven months of 2007 from a year earlier to nearly $15 million on strong construction demand.
The Ho Chi Minh City-based firm, also known as REE, said in a statement issued through the Ho Chi Minh Stock Exchange the seven-month profit accounted for 71.22 percent of its annual target of 340 billion (nearly $20 million).
It did not provide a net profit figure.
Vietnam's construction sector expanded 9.51 percent in the first half of 2007 from a year earlier, government figures show.
REE works in industrial air-conditioning systems and electrical engineering. It also produces household appliances such as washing machines, refrigerators and air-conditioners.
REE, one of Vietnam's first two listed firms when the stock market opened in July 2000, also operates a software park in Ho Chi Minh City, Vietnam's commercial centre.
Its shares fell 1.5 percent to 131,000 dong ($8.1) on Wednesday.
Source: Reuters
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