Q1 2024 Business Results for BMP
Unit: Billion VND
Source: VietstockFinance
BMP’s revenue in Q1/2024 reached VND 1,003 billion, a decrease of 30% compared to the same period last year. Of which, semi-finished products reached VND 955 billion, down 30%; sales of materials and goods recorded VND 48 billion, down 34%.
Gross profit also decreased by 23% compared to the same period last year, to VND 425 billion. However, the gross profit margin improved to 42%, compared to 39% in the same period.
After deducting expenses, BMP recorded a net profit of VND 190 billion in Q1, down 32%.
Compared to the net profit plan of VND 1,030 billion presented at the upcoming 2024 Annual General Meeting of Shareholders, BMP has only achieved more than 18%.
Binh Minh Plastics sets its 2024 profit plan slightly lower than the previous year’s record
As of March 31, 2024, BMP had a total asset of VND 3,502 billion, an expansion of 7.6% compared to the beginning of the year. Of which, cash and cash equivalents (VND 987 billion) and short-term financial investments (VND 1,260 billion) accounted for more than 64%.
Source: Company’s Financial Statements
On the other side of the balance sheet, liabilities reached VND 622 billion, an increase of 10%. The company borrowed and owed VND 55 billion in short-term lease financing.
BMP’s Financial Structure
