DNVN - Profit after tax in 2024 according to the audited separate financial statements and consolidated financial statements of Tay Ninh Rubber Joint Stock Company (stock code: TRC) recorded an increase of 127.5% and 227.3% respectively compared to 2023.
Tay Ninh Rubber Joint Stock Company (stock code: TRC) on February 27 issued an official dispatch explaining the reason why its audited after-tax profit in 2024 increased compared to the same period in 2023.
TRC's audited separate financial statements (FS) for 2024 show that after-tax profit in 2024 reached VND 140.7 billion - while in 2023 it stopped at VND 61.8 billion, an increase of 127.5%.
According to TRC's explanation, the main reason is the increase in the average selling price of rubber latex, the average selling price in 2024 reached 46 million VND/ton, an increase of 40.4% over the same period in 2023, leading to an increase in profit from rubber latex trading activities compared to the same period in 2023.
The increase in average rubber latex price has caused TRC's after-tax profit to grow at a high rate.
According to the audited consolidated financial statements, TRC's after-tax profit last year was VND221.2 billion, an increase of 227.3% compared to the previous year. The main reason for this increase is similar to the separate financial statements in 2024, due to the increase in the average selling price of rubber latex at both the parent company - Tay Ninh Rubber Joint Stock Company and the subsidiary - Tay Ninh Siem Reap Rubber Company PTCS (Kingdom of Cambodia), leading to an increase in profit from rubber latex trading compared to the same period in 2023.
Previously, according to the consolidated financial statements for the fourth quarter of 2024, TRC achieved net revenue of nearly VND 296 billion, up 37% over the same period last year. Cost of goods sold increased less than the increase in revenue, helping TRC achieve gross profit of nearly VND 149 billion, double the same period.
Excluding expenses, TRC recorded pre-tax profit in the fourth quarter of last year at VND128 billion, up 154% year-on-year, marking the highest quarterly profit in more than 10 years, since the third quarter of 2012.
According to the Resolution of the Board of Directors of TRC on the results of implementing production and business targets in 2024, total revenue in 2024 reached 502 billion VND, equal to 125.2% of the plan. Total expenses were at 342 billion VND, 107.1% higher than the plan. Profit after tax in 2024 reached 140.8 billion VND, an increase of 199.6% compared to the plan.
With positive business results, TRC shares on the stock exchange also increased rapidly. TRC shares reached 62,700 VND/share at the close of trading on January 25. Meanwhile, at the close of trading on the afternoon of February 28, TRC shares increased to 84,000 VND/share.
Over the past year, the stock price has increased nearly 138.9% from VND 36,000 on February 26, 2024 to VND 86,000/share at the close of trading on February 26, 2025.
Tay Ninh Rubber Joint Stock Company officially operated as a joint stock company in 2006 with a charter capital of 300 billion VND.
The enterprise specializes in planting, caring for, exploiting, processing and trading rubber latex; manufacturing and trading rubber wood products; testing SVR rubber granules of all kinds and centrifugal rubber according to Vietnamese standards; investing in high-tech agriculture; trading fuel and synthetic materials.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/kinh-doanh/cao-su-tay-ninh-trc-ly-giai-loi-nhuan-2024-tang-gan-230/20250228050102588
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