Hoa Sen Group Joint Stock Company (HSG stock code) has released its Q3 financial report for the 2023-2024 fiscal year, boasting impressive figures. With a revenue of VND 10,840 billion, the company witnessed a 25.3% increase compared to the same period last year. Gross profit reached VND 1,337 billion, an almost 50% surge year-over-year, while the gross profit margin improved from 10.3% to 12.2%.
Financial income saw a remarkable 136% jump, landing at VND 30.6 billion. Operating expenses across the board increased, with selling expenses being the most significant, rising from VND 720.4 billion to VND 901 billion. Despite the rise in expenses, Hoa Sen Group pulled in a remarkable VND 287 billion in pre-tax profit, a 23.5-fold increase compared to the previous year. Post-tax profit attributed to parent company shareholders stood at VND 273 billion, an astounding 1,900% growth compared to Q3 of last year.
For the first three quarters of the 2023-2024 fiscal year, Hoa Sen Group’s cumulative revenue hit VND 29,163 billion, nearly a 24% increase year-over-year. The company turned a profit of VND 696 billion during this period, compared to a loss of VND 410 billion in the previous year. With these results, Hoa Sen Group has successfully achieved its target of VND 400-500 billion in after-tax profit for the year.
As of June 30, the company’s total assets stood at VND 21,976 billion, an increase of over VND 4,600 billion from the start of the fiscal year. Inventories accounted for half of the assets, totaling VND 11,918 billion, a 56% increase. Fixed assets amounted to VND 4,515 billion.
The Group’s financial borrowings were VND 6,164 billion, entirely comprised of short-term bank loans. Shareholders’ equity reached VND 11,159 billion, including undistributed post-tax profits of VND 4,778 billion.
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