TNG’s H1 profit sees 2-fold increase y-o-y

TNG Trading and Investment Joint Stock Co (TNG) has recently announced its fiscal report for the second quarter of this year with a year-on-year rise of 56 percent in revenue, to reach over 275 billion dong.

The original costs of goods for sales in Q2 increased 65 percent, accounting for over 227 billion dong. Therefore, its consolidated profit was only 48.1 billion dong in Q2, up 23 percent y-o-y.

Also in Q2, TNG made a 12 billion dong repayment for loans, so it suffered a loss of over 19 billion dong from financial activities.

Thanks to declines in both original costs of goods for sales and administration expenditures at 19 percent and 12 percent respectively, TNG’s after tax profit was 10.4 billion dong, nearly two-fold increase against 5.3 billion dong in last Q2.

Totally in Jan-Jun, the company gained 486.2 billion dong revenue, rising 96 percent y-o-y. Particularly, its export turnover reached $24 million. Its after tax profit increased from 9.4 billion dong to 18.6 billion dong, up 98 percent on year.

Thus, in H1, TNG fulfilled 40 percent of the year’s revenue plan and 24 percent of the year’s profit target.

 

Category: Business