Phuong Phu Pharmaceutical’s Q3 Performance: A Step Back

Amidst declining revenues and rising production costs, Phong Phu Pharmaceutical JSC (HNX: PPP) experienced a downturn in profits during Q3 2025.

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PPP’s Q3/2025 Business Targets

In Q3, PPP recorded a net revenue of VND 33 billion, a 3% decrease compared to the same period last year. Conversely, the cost of goods sold saw a slight increase, resulting in a gross profit of VND 11 billion, 9% lower than the previous year.

Both selling expenses and administrative costs rose during the quarter, by 15% and 5%, respectively. The company attributed these increases to maintaining promotional programs to sustain sales, alongside higher production costs than the previous year. Ultimately, the company reported a net profit of VND 3.3 billion, 30% lower than the same period last year.

For the first nine months, PPP achieved a net revenue of VND 98 billion, a slight 3% decrease year-on-year, yet still managed a net profit of approximately VND 12 billion, a minor increase. The company fulfilled 66% of its revenue target and nearly 81% of the post-tax profit plan approved by the 2025 Annual General Meeting.

By the end of Q3, PPP‘s total assets reached VND 163 billion, a slight decrease from the beginning of the year. Cash and cash equivalents dropped by 19% to over VND 32 billion, while inventory increased by 9% to more than VND 40 billion.

On the capital side, total liabilities decreased slightly to over VND 30 billion, primarily short-term debt. Notably, loans amounted to only VND 824 million, compared to none recorded at the beginning of the year.

Châu An

– 13:28 25/10/2025

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