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Plastics firm (AAA) reports 5% increase in Q2 revenue
An Phat Bioplastics Joint Stock Company (HoSE: AAA) has reported its second quarter revenue gained nearly 5 per cent year on year to VND2.43 trillion (US$104.5 million).
The company’s revenue growth was attributed to leasing land and selling assets, which brought it up to VND216.8 billion.
The cost of selling goods was cut in the second quarter, helping boost the firm’s quarterly gross profit margin to 12 per cent from last year’s second-quarter level of 7.34 per cent.
The company recorded a VND291.4 billion profit margin, up from last year’s VND170 billion.
At the end of the second quarter, post-tax profit rose 2.8 times year on year to VND140.5 billion.
In the first half of the year, An Phat Bioplastics recorded a 39 per cent increase in revenue at VND5.04 trillion.
Its six-month post-tax profit tripled from the first half of last year to VND364 billion. The company has fulfilled 71 per cent of its profit target for the full year.
In the first half of the year, the company operated seven factories at maximum capacity and its sales in the US and Japan increased by 80 per cent and 40 per cent, respectively.
Shares of An Phat Bioplastics edged down 0.6 per cent on Friday to close at VND17,850 ($0.78) per share.
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