APH Records Remarkable Profit of 133 Billion VND on Boosted Production
By driving its production sector, APH has witnessed a record-breaking post-tax profit of 133 billion VND, marking the highest quarterly profit since its initial public offering. The company has accomplished 24% of its revenue target and 42% of its profit target for the projected year 2024.
SURGING PRODUCTION EARNS APH RECORD-HIGH PROFIT
An Phat Holdings Corporation Joint Stock Company (HOSE: APH) has recently unveiled its financial performance for the first quarter of 2024. During the first three months of 2024, APH registered a combined revenue of 3,388 billion VND, showing a 6% increase compared to the fourth quarter of 2023.
As of the end of Q1 2024, APH’s gross profit reached 419 billion VND, a 24% growth year-over-year and a 4% increase quarter-over-quarter. The gross profit surge is primarily attributed to higher sales volume of packaging, plastic additives, optimized product and market structure, efficient inventory control, and favorable exchange rate impact.
The net profit from operating activities amounted to 165 billion VND, reflecting a 35% increase from the previous quarter. Consequently, APH recorded a post-tax profit (PBT) of 133 billion VND, its highest quarterly profit since its listing. After only the first three months, APH has fulfilled 24% of its revenue target and 42% of its profit target, as projected by the Board of Directors for the 2024 Annual General Meeting of Shareholders.
MEMBER COMPANIES REPORT PROMISING PERFORMANCE
During the first quarter of 2024, APH’s member companies generally posted positive financial results. Specifically, An Phat Plastic Green Joint Stock Company (HOSE: AAA) reported a consolidated revenue of 2,964 billion VND, representing a 10% growth compared to Q4 2023. Packaging sales volume reached 25,052 tons, while plastic additives and limestone powder sales volume reached 31,440 tons. Revenue from manufacturing, trading, and industrial zones all increased. Gross profit amounted to 332 billion VND, a 35% year-over-year increase, with a significant profit margin improvement compared to the first quarter of 2023.
By the end of the first quarter, AAA’s post-tax profit reached 144 billion VND, its highest since Q2 2019, primarily driven by growth in the manufacturing segment, enhanced efficiency in the trading segment, reduced financial expenses, and favorable exchange rate impact. The net profit margin reached 4.9%, the highest since Q2 2019. The company has accomplished 25% of its revenue target and 38% of its profit target, as set by the Board of Directors for the upcoming 2024 Annual General Meeting of Shareholders.
For the first three months in total, An Tien Industries Joint Stock Company (HOSE: HII) recorded a consolidated revenue of 1,657 billion VND, representing a 12% increase compared to Q4 2023. Revenue from the manufacturing and service segments increased by 12% and 20% year-over-year, respectively, due to higher sales volume of plastic additives and expanded customer base in the logistics segment.
HII’s gross profit reached 103 billion VND, with a solid gross profit margin increase attributed to higher sales volume in the plastic additives manufacturing segment and enhanced efficiency in the trading segment. HII also benefited from a favorable exchange rate impact due to its significant export revenue. The net profit from operating activities for Q1 2024 stood at 33 billion VND, resulting in a post-tax profit of 31 billion VND. Accordingly, HII has fulfilled 24% of its revenue target and 33% of its profit target, as projected by the Board of Directors for the 2024 Annual General Meeting of Shareholders.
In the supporting industry and construction plastics segment, Hanoi Plastic Joint Stock Company (HOSE: NHH) recorded a consolidated revenue of 445 billion VND, while gross profit reached 87 billion VND, corresponding to a gross profit margin of 19.7%. This increase is primarily due to higher gross margin in construction plastics and optimized product and customer structure in the supporting industry segment.
Net profit from operating activities reached 49 billion VND, representing a 17% increase year-over-year and a 10% increase quarter-over-quarter. Notably, the company reported a post-tax profit of 41 billion VND, its highest since 2021 and the third consecutive quarter of growth. Thus, the company has accomplished 20% of its revenue target and 29% of its profit target, as set by the Board of Directors for the 2024 Annual General Meeting of Shareholders.
