On average, each month in the first 11 months of 2024, Thien Long Group Joint Stock Company earned more than 300 billion VND in revenue.
Thien Long products are displayed at a college - Photo: TLG
Thien Long Group Joint Stock Company (HoSE: TLG), the owner of the Thien Long ballpoint pen brand, has just announced its business results for the first 11 months of 2024.
Overall, the company's 11-month cumulative business results grew year-on-year thanks to momentum from overseas markets and cost control measures.
Specifically, in the first 11 months of 2024, Thien Long achieved more than 3,400 billion VND in revenue, an increase of 6% over the same period last year and completed 91% of the yearly plan.
Of which, the domestic market contributed 73% of total revenue, bringing in VND 2,545 billion and export revenue reached VND 925 billion, up 21% over the same period.
In November alone, Thien Long's revenue from foreign markets increased by 91% over the same period, thanks to the expansion of foreign markets.
This company's products are exported to more than 70 countries and territories.
Regarding profit, accumulated 11 months, Thien Long's gross profit increased by 8% over the same period, reaching 1,545 billion VND.
Thus, the company's gross profit margin this period reached 44.5% while the same period last year was nearly 43.8%.
The company has kept a tight control on its selling and general and administrative expenses over the past period, increasing them by only 1% year-on-year.
Accumulated for 11 months, Thien Long's net profit was 448 billion VND, up 24% over the same period in 2023.
Net profit margin also improved, increasing from 11.09% to 12.91%.
The company's management said that in terms of business cycles, Thien Long's peak sales season usually falls in the second and third quarters, while the fourth quarter is a period of lower sales.
Thien Long is a manufacturing and trading enterprise in the stationery industry, with its predecessor being a ballpoint pen facility established by Mr. Co Gia Tho in 1981.
Currently, this company has two major shareholders: Mr. Co Gia Tho - Chairman of the Board of Directors (owning 6.27% of capital) and Thien Long An Thinh Investment Joint Stock Company (holding 47.52%). In which, Thien Long An Thinh is also the company with Mr. Co Gia Tho as the legal representative.
As of the end of September 2024, the company has 7 subsidiaries and more than 2,900 employees.
According to the analysis report of Tien Phong Securities Joint Stock Company, Thien Long will have many advantages in approaching customers (individuals and organizations) when the economy recovers.
Vietnam's economy is expected to grow well, especially as it continues to become a country receiving large amounts of capital from foreign-invested enterprises.
This contributes to creating a favorable environment for the revival of small and medium enterprises as well as investment and learning activities.
Source: https://tuoitre.vn/but-bi-thien-long-thu-ve-binh-quan-hon-300-ti-dong-moi-thang-20250102115853191.htm
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