## PPC’s Business Targets in Q3 2024
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Q3 2024 Business Performance of PPC
Source: VietstockFinance
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In the third quarter, PPC‘s net revenue increased by 10% to nearly VND 1,470 billion. Cost of goods sold increased by only 7%, but the absolute value exceeded revenue, resulting in a gross loss of VND 57 billion, down from a loss of VND 84 billion in the same period last year.
However, financial revenue for the period dropped sharply by 75% to VND 45 billion. The company explained that this was dividend income received from units in which PPC holds capital. This decline in revenue caused the company to incur a net loss of VND 5 billion (compared to a profit of VND 84 billion in the same period last year), despite additional other income of VND 26 billion (compared to a loss of VND 3.5 billion in the same period last year). This is also the first quarterly loss for PPC since Q3 2021.
For the first nine months of the year, PPC achieved VND 5,900 billion in revenue, up 47%; net profit decreased by 14% to VND 246 billion compared to the same period last year. Compared to the plan set at the 2024 Annual General Meeting of Shareholders, PPC achieved nearly 68% of the revenue target and over 59% of the annual pre-tax profit plan.
 Source: VietstockFinance
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As of the end of September, the company’s total assets decreased slightly by 6% compared to the beginning of the year, to over VND 5,400 billion. Half of this was in the form of short-term assets, amounting to nearly VND 2,600 billion, a decrease of 13%. Cash holdings stood at just over VND 13 billion, a significant drop from the VND 123 billion held at the beginning of the year. Accounts receivable increased slightly, recording more than VND 1,900 billion. Inventory decreased by 29%, to over VND 500 billion.
On the capital side, all of the company’s payables were short-term, amounting to VND 804 billion, an increase of 5%, with no borrowings. All solvency ratios exceeded 1, indicating stable financial health for PPC.
As of the end of Q3, retained earnings were VND 460 billion, half of what they were at the beginning of the year. Recently, the company announced a dividend payout for the remaining 2023, with a ratio of 6.25% (VND 625/share), equivalent to a payout of over VND 200 billion. The ex-dividend date is November 5, and payment is expected to be made on December 6, 2024.
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