On September 5, An Phat Holdings Joint Stock Company (stock code: APH) and its subsidiary – An Phat Plastic Joint Stock Company (stock code: AAA) announced the resolution of their Boards of Directors approving the adjustment of their business plans for the year 2024.
Accordingly, An Phat Holdings adjusted its business plan for 2024 downward compared to the plan approved at the 2024 Annual General Meeting of Shareholders. Specifically, consolidated revenue was reduced from VND 14,000 billion to VND 13,000 billion, a decrease of 7.14%, and consolidated after-tax profit was reduced from VND 314 billion to VND 281 billion, a decrease of 10.51%.
An Phat Plastic also adjusted its business plan for 2024 with consolidated revenue decreasing from VND 12,000 billion to VND 11,000 billion, down 8.33%, and consolidated after-tax profit decreasing from VND 377 billion to VND 314 billion, down 16.71%.
APH and AAA simultaneously adjust their 2024 business plans
The Boards of Directors of An Phat Holdings and An Phat Plastic assigned the General Director and the Board of Directors of the Companies to promote the direction, organize and effectively deploy action plans suitable to the practical conditions to achieve the adjusted production and business plan targets.
An Phat Holdings and An Phat Plastic adjusted their business plans in the context that, in the first six months, both enterprises recorded high profit growth. According to the reviewed consolidated financial statements for the first six months of 2024, An Phat Holdings recorded after-tax profit for the first six months of 2024 of over VND 271 billion, up 505% over the same period. Similarly, An Phat Plastic also recorded after-tax profit for the first six months of 2024 of nearly VND 282 billion, up 148% over the same period.
With the adjusted business plan, after the first six months, An Phat Holdings has completed 51% of the revenue plan and 96% of the after-tax profit plan, and An Phat Plastic has completed 52% of the revenue plan and 90% of the after-tax profit plan. Earlier, at the 2024 Annual General Meeting of Shareholders, the leaders of An Phat Holdings said that 2024 continues to be a year with many potential difficulties for enterprises, and the global economic growth is forecasted to be low.
