Services
APH Posts Record Profit on Robust Production
An Phat Holdings Corporation (**HOSE**: **APH**) has recently released its Q1 2024 financial report. In the first three months of 2024, **APH** recorded consolidated revenue of VND 3,388 billion, a 6% increase compared to Q4 2023.
Gross profit reached VND 419 billion, up 24% year-over-year and 4% quarter-over-quarter. This growth was primarily driven by increased sales volume of packaging, plastic additives, optimized product and market structure, efficient inventory control, and benefits from currency appreciation.
In Q1 2024, **APH** recorded a record after-tax profit.
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Net income from operating activities was VND 165 billion, a 35% increase from the previous quarter. Consequently, **APH** reported after-tax profit (PAT) of VND 133 billion, the highest quarterly profit since its listing. After just the first three months of the year, **APH** has achieved 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’ Positive Results
In Q1 2024, all subsidiaries of **APH** demonstrated promising business performance. Specifically, An Phat Green Plastic JSC (**HOSE**: **AAA**) achieved consolidated revenue of VND 2,964 billion, a 10% increase compared to Q4 2023. Sales volume reached 25,052 tons for packaging and 31,440 tons for plastic additives and stone powder. Revenue from manufacturing, trading, and industrial zones all increased. Gross profit reached VND 332 billion, a 35% increase year-over-year, with a significant rise in profit margin compared to the same period in 2023.
At the end of the first quarter, **AAA’s** PAT reached VND 144 billion, the highest since Q2 2019, primarily due to growth in manufacturing, improved efficiency in trading, reduced financial expenses, and currency appreciation. The net profit margin was 4.9%, the highest since Q2 2019. The company has met 25% of its revenue target and 38% of its profit target as projected by the Board of Directors for the 2024 Annual General Meeting of Shareholders.
Member companies of **APH** all reported promising results, with significant margin increases year-over-year.
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An Tien Industries JSC (**HOSE**: **HII**) recorded consolidated revenue of VND 1,657 billion, a 12% increase compared to Q4 2023. Revenue from manufacturing and services grew by 12% and 20% year-over-year, respectively, due to increased sales volume of plastic additives and expanded customer base in the logistics sector.
HII’s gross profit reached VND 103 billion with a higher margin due to increased sales volume in plastic additives manufacturing and improved efficiency in trading. The company also benefited from currency appreciation as export revenue contributes significantly to the total. Net income from operating activities reached VND 33 billion, and profit after tax was VND 31 billion. Accordingly, HII has achieved 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 sector, Ha Noi Plastic JSC (**HOSE**: **NHH**) posted consolidated revenue of VND 445 billion, while gross profit reached VND 87 billion. The gross profit margin stood at 19.7%, higher than Q1 2023 and Q4 2023, mainly driven by a higher margin in construction plastics and optimized product and customer structure in the supporting industry sector.
Net income from operating activities reached VND 49 billion, up 17% year-over-year and 10% quarter-over-quarter. Notably, the company recorded an after-tax profit of VND 41 billion, the highest quarterly profit since 2021 and a third consecutive increase. As a result, the company has achieved 20% of its revenue target and 29% of its profit target as projected by the Board of Directors for the 2024 Annual General Meeting of Shareholders.
