Song Da Industrial and Trading Joint Stock Co (coded STP) has released the Q1 business reports with accumulative net revenue of about 34 billion dong, down 40.8 percent year-on-year, while consolidated profit of 4.2 billion dong, down 48.7 percent.
The financial activities brought in loss of 800 million dong, in comparison with profit of 700 million dong in the same period last year.
However, the company has saved the enterprise management board by 20.9 percent; while sales costs dropped by 24.3 percent year-on-year, resulting in Q1 net profit of 5.5 billion dong, down 16.6 percent.
The pre-tax profit and after tax profit was posted at 5.7 billion dong and 4.4 billion dong respectively, down 15.8 percent year-on-year.
This year, STP has planned to obtain total production output value of 287.23 billion dong, revenue of 262.81 billion dong and after tax profit of 24.88 billion dong. Therefore, by the end of Q1, the company has fulfilled 17.7 percent of profit plan.