An Phat Holdings Reports Record Profits Since Listing

In the first three months of the year, An Phat Holdings Corporation (HOSE: APH) recorded consolidated revenue of VND 3,388 billion, up 6% compared to the fourth quarter of 2023. Gross profit reached VND 419 billion, up 24% year-on-year and 4% quarter-on-quarter, mainly driven by growth in the production segment, optimization of product structure and market, increased efficiency in the plastic resin trading segment and benefiting from the exchange rate increase.

Notably, the company recorded after-tax profit in the first quarter of 2024 of VND 133 billion, an increase of 2.8 times compared to the same period last year, due to growth in the production segment, improved efficiency in the trading segment, reduced financial expenses and benefited from the exchange rate increase. Accordingly, this is the quarter that APH has the highest after-tax profit since its listing in 2020.

As of March 31, 2024, APH’s equity reached VND 5,816 billion, and long-term debt reached VND 456 billion. The debt-to-equity ratio continued to decrease to 0.62 times.

With this result, the company has completed 24% of the revenue plan and 42% of the profit plan that the Board of Directors plans to submit to the 2024 Annual General Meeting of Shareholders.

In addition to the parent company, APH’s member companies also recorded positive business results in the first quarter of 2023.

Accordingly, An Phat Plastics Green Joint Stock Company (HOSE: AAA) recorded consolidated revenue of VND 2,964 billion, up 10% compared to the fourth quarter of 2023. The company’s representative said that the output of packaging sold reached 25,052 tons, the output of additive plastic and stone powder sold reached 31,440 tons, up 9% and 14% respectively compared to the same period in 2023. In the first quarter, AAA recorded gross profit of VND 332 billion, up 35% year-on-year, mainly due to strong growth in the production segment, effective inventory control and optimized sales policy in the trading segment.

The company recorded record after-tax profit of VND 144 billion – the highest since the second quarter of 2019, thanks to the growth in the production segment, improved efficiency in the trading segment, reduced financial expenses and benefited from the exchange rate increase. Up to this point, the company has completed 25% of the revenue plan and 38% of the profit plan that the Board of Directors plans to submit to the 2024 Annual General Meeting of Shareholders.

Another member of APH is Ha Noi Plastics Joint Stock Company (HOSE: NHH) also reported a large profit for the third consecutive quarter. Accordingly, in the first quarter of 2024, NHH recorded after-tax profit of VND 41 billion, the highest quarter since the first quarter of 2021, up 25% and 6% respectively compared to the first quarter of 2023 and the fourth quarter of 2023. Net profit margin reached 9.1%, the highest quarter since the first quarter of 2021.

Also according to the report, NHH recorded consolidated revenue of VND 445 billion. Thus, the company completed 20% of the revenue plan and 29% of the profit plan that the Board of Directors planned to submit to the 2024 Annual General Meeting of Shareholders.

Similarly, the business results report for the first quarter of 2024 of An Tien Industries Joint Stock Company (HOSE: HII) showed that consolidated revenue reached VND 1,657 billion, up 12% compared to the fourth quarter of 2023.

Besides, the company also reported a large profit compared to the fourth quarter of 2023. Accordingly, HII recorded net profit from operating activities in the first quarter of 2024 of VND 33 billion, an increase of 93% compared to the fourth quarter of 2023. After-tax profit reached VND 31 billion, an increase of 77% compared to the previous quarter. With this result, the company has completed 24% of the revenue plan and 33% of the profit plan that the Board of Directors plans to submit to the 2024 Annual General Meeting of Shareholders.