The total revenue of the first quarter of 2024 of May 10 Corporation reached 1,128 billion VND, an increase of 24.2% over the same period, of which the export revenue of the first quarter reached 1,020 billion VND, an increase of nearly 29%.
 |
| May 10's export revenue in the first quarter of 2024 increased by nearly 29% over the same period. |
Production and business activities in the first quarter of 2024 of May 10 Corporation - JSC are receiving clear signs of recovery.
Latest information from May 10's Board of Directors, total revenue in the first quarter of the year reached 1,128 billion VND, up 24.4% over the same period, reaching 25.07% of the 2024 plan.
Of which, export revenue in the first quarter reached VND 1,020 billion, up 28.27% over the same period, reaching 25.64% of the 2024 plan. Domestic revenue reached VND 73.16 billion, up 3% over the same period in 2023.
For the domestic market, May 10's revenue increased by 3% over the same period, reaching over 73 billion VND. Of which, the M10 Mart supermarket system and fashion/tailoring stores both recorded revenue growth, respectively 12% and 4% over the same period.
The company's workforce remains the same as the same period with over 7,200 employees, with an average income of 10.7 million VND/person/month.
Regarding investment activities, in the first quarter and the whole year plan of 2024, the Corporation continues to focus on key projects including Thai Ha - Thai Binh Garment Factory and expanding production capacity at Bim Son Factory.
Forecasting the market situation in the second quarter and the whole year of 2024, Mr. Than Duc Viet, General Director of May 10 said: "The market still has many difficulties, unpredictable developments and orders have recovered but prices have not improved, even many product lines' expected prices in the second half of the year are lower than 2023 levels. Requirements for production and delivery progress are also gradually being shortened."
To cope with market difficulties, in the past 2 years, May 10 has diversified its products including different designs and materials. In addition, May 10 also combines AI and technology to maintain maximum efficiency.
In 2023, in an unprecedented difficult context, May 10 sought solutions to promote production and business, bringing in total revenue of VND 4,248 billion, an increase of 1.15% compared to the plan; pre-tax profit reached VND 123 billion, an increase of 11.8% compared to the plan.
But compared to 2022, revenue in 2023 only reached 90.92%, profit reached 81.86%.
Faced with forecasts that the global textile market has not fully recovered, May 10 sets a revenue target of VND 4,500 billion in 2024, up 6.6% compared to 2023; profit of VND 130 billion, up 5.7% compared to 2023; Average income of VND 9.5 million/person/month, up 2.7% compared to 2023.
To achieve the growth target for 2024, businesses proactively seek and exploit domestic and international markets, provide enough jobs for workers, and implement strategies to diversify markets, products, and customers.
Invest resources in production activities, product research and conversion, research new products, new materials, speed up sample sewing, sample stamping, sample quality... to handle difficult orders, complex product structures, fast delivery time...
"The goal is to take advantage of even the smallest opportunities from the market, expand the customer base to maintain production and business activities, ensure jobs and retain workers," Mr. Viet emphasized.
Source
Comment (0)