In the first half of 2024, several companies producing student supplies for children reported soaring profits compared to the same period in 2023.
For Thien Long – the “tycoon” of ballpoint pen production in Vietnam – recorded a revenue of nearly VND 2,016 billion, with a net profit of VND 331 billion, an increase of 22.5% over the same period. In Q2/2024 alone, Thien Long’s revenue and profit reached their highest levels since the company was listed on the stock exchange.
Vietnam Educational Publishing House One Member Limited Company – the exclusive unit for trading textbooks in Vietnam – recorded a revenue of VND 2,224 billion, an increase of 35.5% over the same period. The gross profit margin was at 24.5%.
Pre-tax profit reached VND 393.3 billion, and after-tax profit was VND 354.8 billion, up 23.9% and 23.2%, respectively, compared to the previous year. In just six months, the Educational Publishing House recorded a record-high profit, even surpassing the profit of many previous years.
Thus, both enterprises made a profit of over VND 2 billion each day in the first half of 2024.
Over the years, the profits of Thien Long and the Vietnam Educational Publishing House have continuously grown. Looking back at 2023, both companies recorded a decrease compared to 2022, but it was still among the highest for these enterprises. In 2024, both are heading towards a new record.
Although they sell relatively low-priced items such as textbooks and school supplies, these companies consistently grow due to their industry-leading positions. Additionally, with millions of students needing school supplies, these businesses have a stable customer base.
Even the profits of Thien Long and the Vietnam Educational Publishing House in 2023 exceeded those of many real estate companies – enterprises selling much more expensive products such as housing, land, and shophouses. In the first half of 2024, both companies again recorded higher profits than these real estate giants.
