Saturday, November 29, 2025 11:34:46 AM - Markets open
VN-INDEX 1,690.99 +6.67/+0.40%
HNX-INDEX 259.91 -1.52/-0.58%
UPCOM-INDEX 118.98 -0.38/-0.32%
Vicostone's revenue hits over $126.3 million
vietnamnews - 10/31/2024 10:02:50 AM
 (0 ratings. You must sign in to rate.)
The company recorded positive results in the first nine months of 2024, in spite of risks and challenges in the world economy, increasing strategic competition, trade and technology protection among countries and high inflation and interest rates.
 
 
Visitors check out Vicostone products at a trade stand. — Photo courtesy of the company
 
Vicostone JSC, a member of Phenikaa Group, earned over VNĐ3.21 trillion (US$126.32 million) in revenue in the first nine months of this year, VNĐ20 billion higher than the same period last year or equivalent to 70 per cent of the target set for the whole year.
 
The company, which makes composite materials, reported that pre-tax profit also fulfilled 71 per cent of the yearly goal, reaching over VNĐ730 billion ($29 million) in nine months and surging VNĐ13 billion year over year.
 
The company recorded these positive results in the nine month period despite risks and challenges the world economy had faced, such as geopolitical tensions in the Middle East, increasing strategic competition, trade and technology protection among countries and high inflation and interest rates.
 
In addition, natural disasters and extreme weather had a negative influence on people's lives. Distributors in the US - one of Vicostone's main markets - reduced orders in anticipation of lower freight rates and the presidential election results - factors that could cause profound changes in the economy.
 
During the period, Vicostone continued to promote risk management, ensuring a stable operating system and good financial liquidity when it optimised the use of working capital.
 
The company maintained strong financial potential with cash and cash equivalents topping over VNĐ1.46 trillion as of September 30, an increase of VNĐ64.3 billion compared to the beginning of the year. This created a proactive foundation for flexibly responding to risks from global economic fluctuations and industry risks in 2024 and the following years.
 
Earlier, the company set a target of earning a net revenue of over VNĐ4.6 trillion ($183 million) in 2024, up 5.71 per cent year-on-year.
 
The company's pre-tax profit this year is expected to reach over VNĐ1 trillion, 3.45 per cent higher than the previous year.
 
"These are considered challenging goals, but also a motivation for the company to continue its efforts, do business effectively and realise its sustainable development strategy," Vicostone said in a statement.
 
Top priority will be given to ensuring sustainable development in environmental, social, and governance aspects, improving human resource quality, increasing labour productivity in addition to optimising costs and operational efficiency, and enhancing risk management, it said.
 
Promoting the use of local raw materials, reducing dependence on external supplies, proactively controlling quality and optimising raw material costs will be also included. — VNS
 
 
Read original article here
Newer News
24/11 Fertiliser producers post record profits in Q3
20/11 CTD: Coteccons announces cash dividends following record profit
20/11 FPT and FutureTEC form exclusive partnership to drive digital growth in the Middle East
20/11 Young leadership mindset and SHB’s breakthrough journey in a new era
18/11 FOX: FPT Telecom to hold first extraordinary shareholders meeting after transfer
14/11 HSG: Hoa Sen Group to invest $38 million in construction materials distributor
13/11 HDB: HDBank well on course to hit 2025 profit targets
13/11 Việt Nam’s auto market surges 24%, VinFast sets new record
05/11 HVN: Vietnam Airlines launches direct flight connecting Hà Nội-Jakarta
04/11 CTD: Coteccons reports highest quarterly profit in 5 years
Older News
31/10 FUEBFVND: Temporary suspension of the exchange trading
31/10 TCO: Adjustment of foreign ownership limit
31/10 PMG: Report on overcoming the status of warned securities
31/10 NHA: BOD resolution dated October 28, 2024
31/10 KSB: Reminder of information disclosure
31/10 ICT: Overcome the status of warned securities
31/10 DLG: Report on overcoming the status of warned and supervised securities
31/10 DGW: BOD resolution dated October 28, 2024
31/10 CIG: Overcome the status of supervised securities
30/10 STB: STB 241030 Explanation for the separate financial statements Q3.2024
 
Newsletter Signup
Top Stories
Stock market poised for boost in variety with new IPO wave
Financial market enters a new cycle of asset realignment
HDB: HDBank well on course to hit 2025 profit targets
Stock market realigns capital flows, long-term expectations
Việt Nam well positioned for breakthrough growth in 2026 as global investors renew confidence
Market Update
Last updated at 3:10:02 PM
VN-INDEX 1,690.99 +6.67/+0.40%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.