On April 21, Agricultural Packaging and Printing Joint Stock Company (Code: INN) organized the 2024 Annual General Meeting of Shareholders, passing important contents.
Reviewing the situation in 2023, the company recorded net revenue and profit before tax of VND 1,533 billion and VND 113 billion, respectively, a decrease of 10% and an increase of 10% compared to the previous year, thereby setting a peak in profit highest in history. Compared to the plan, the company has completed 93% of the revenue plan and exceeded 7% of the profit target.
Notably, the 2023 dividend payment plan has changed compared to the plan. From the plan for a minimum dividend level of 18%, the INN Board of Directors proposed paying dividends at a rate of 20%. However, shareholders at the meeting had opinions to propose additional bonus shares or increase the dividend payment ratio. Then, the chairman agreed that the dividend payment rate for 2023 will be increased to 25%, all in cash and is expected to be paid once on 1/6/2024.
Making plans for 2024, the INN Board of Directors submitted to the shareholders and was approved with a revenue target of VND 1,650 billion (according to the fixed unit price in 2023) and profit before tax of VND 116 billion to VND 120 billion. The lowest dividend is 18%/year.
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Regarding development investment, INN plans to find land in Pho Noi A Industrial Park from 4-5 hectares to build a new factory, with an estimated cost of 120-150 billion VND, at the same time investing in equipment, increasing more production capacity and synchronizing factory equipment, investing in solar power systems. In addition, the company also plans to invest from 300-350 billion VND according to the investment phase and market signals.
Regarding the 44,000 treasury shares that the 2023-2028 General Meeting of Shareholders decided to sell to the company’s Trade Union, due to difficult procedures, INN has proposed to sell this amount of shares on the stock exchange this year.
Business specializing in making cigarette packs, Orion candy wrappers, Traphaco drug packaging
It is known that INN’s predecessor was a map drawing and printing workshop established in 1963, then transformed from a State-owned Enterprise and officially started operating as a Joint Stock Company model since 2004 with the international trading name APP. By 2010, the INN stock was officially listed on the HNX stock exchange.
With over 60 years of experience in printing and manufacturing packaging, labels, etc., INN is currently one of the leading companies in the printing and packaging industry in Vietnam. Introducing on the website, the company said that its main products include labels, newspapers, magazines and especially paper box packaging on various materials – carton – coated aluminum paper, plastic film, plastic decal…
The most popular packaging item in the domestic and foreign markets is candy and cake boxes, pharmaceuticals, cigarettes, … Some of INN’s customers include Traphaco, Orion, Huu Nghi, Rang Dong, Thang Long cigarette…
As of December 31, 2023, INN’s total assets reached VND 1,089 billion, an increase of 10% over the beginning of the year, of which up to VND 360 billion (1/3 of assets) was cash, cash equivalents and deposits. bank deposits. Owners’ equity reached VND 657 billion with more than VND 100 billion of undistributed after-tax profit.
On the market, INN shares closed on April 22 at VND 48,900/share.
