Plastic producer earns Q1 profit of 80b dong

Tien Phong Plastic Joint Stock Co (coded NTP) announced to reach Q1 revenue of 397 billion dong, increasing by 41 percent year-on-year, pre-tax profit of 80 billion dong, up 29 percent. The company’s value of stockpiled products in Jan-March dropped sharply to 39 billion dong, in comparison with the previous period of 103 billion dong.

The reasons for the company’s increasing profit in Q1 can be explained that from January 20, 2010, NTP decided to raise the sales price by 10 percent, while sales commission fell. In addition, in Q4 of 2009, the company forecasted precisely that the price for materials would increase, therefore NTP used bank loans for stockpiling raw materials.

 

Category: Business