Nam Viet Joint Stock Company (code ANV - HoSE) plans to close the list of dividend payments for 2023 in October and make payment in December 2024 with a total amount of up to 66.56 billion VND.
On October 14, Nam Viet will close the list of shareholders to pay 2023 cash dividends at a rate of 5%, equivalent to shareholders owning 1 share will receive 500 VND and is expected to be implemented on December 27.
With 133.1 million shares outstanding, Nam Viet is estimated to pay a total of VND66.56 billion in this dividend payment.
Profits decline in the first 6 months of the year, still far from the 2024 full-year target
In terms of business activities, in the second quarter of 2024, Nam Viet recorded revenue of VND 1,193.4 billion, an increase of 11.1% over the same period, profit after tax of VND 17.5 billion compared to the same period with a loss of VND 51.04 billion, an increase of VND 68.54 billion. In which, gross profit margin improved from 4.5% to 12%.
During the period, gross profit increased by 197.3% over the same period, equivalent to an increase of VND 95.05 billion to VND 143.23 billion; financial revenue increased by 39.1%, equivalent to an increase of VND 3.02 billion to VND 10.75 billion; financial expenses decreased by 41.2%, equivalent to a decrease of VND 19.12 billion to VND 27.24 billion; sales and administrative expenses increased by 36.7%, equivalent to an increase of VND 24.12 billion to VND 89.93 billion and other activities fluctuated insignificantly.
Accumulated in the first half of 2024, Nam Viet recorded revenue of VND 2,209.4 billion, down 0.9% over the same period and profit after tax of VND 34.41 billion, down 16.7% over the same period last year.
In 2024, Nam Viet targets total revenue of VND 5,000 billion, an increase of 13% compared to 2023, with target after-tax profit nearly 8 times higher, up to VND 306 billion.
Thus, ending the first half of 2024 with after-tax profit reaching VND 34.41 billion, Nam Viet has only completed 11.2% of the ambitious plan of VND 306 billion in profit in 2024.
It is known that previously, in 2023, Nam Viet recorded revenue of VND 4,439 billion, down 9%; pre-tax profit of VND 64 billion, down 92% compared to 2022 and only completed 10.8% of the plan.
In terms of asset size, as of June 30, 2024, Nam Viet's total assets decreased slightly by 3.9% compared to the beginning of the year, equivalent to a decrease of VND 200.6 billion to VND 4,912.1 billion. Of which, the main assets in inventory were recorded at VND 2,126.9 billion, accounting for 43.3% of total assets; fixed assets were recorded at VND 1,019.2 billion, accounting for 20.75% of total assets; long-term unfinished assets were recorded at VND 932.5 billion, accounting for 19% of total assets and other items.
In addition, in terms of capital size, by the end of the second quarter, total short-term and long-term debt decreased by 11.5% compared to the beginning of the year, equivalent to a decrease of VND 221.8 billion to VND 1,706.8 billion and equal to 59.2% of total equity. Of which, short-term debt was VND 1,587.1 billion and long-term debt was VND 119.7 billion.
Leaders sell shares
Another noteworthy point about the transaction of internal shareholders, Mr. Tran Minh Canh, member of the Board of Directors and Deputy General Director, sold 200,000 ANV shares to reduce ownership from 450,000 shares (0.34% of charter capital) to 250,000 shares (0.18% of charter capital), the transaction was carried out from July 25 to August 19.
In the context of Nam Viet's leaders selling shares, from April 23 to July 19, ANV shares increased by 27.2% from VND28,300 to VND36,000/share. However, from the peak on July 19 to September 13, ANV shares reversed and decreased by 12.36%, from the peak on July 19 to VND31,550/share.
In particular, the driving force for Nam Viet's stock price increase mainly comes from the expectation that the company will have a prosperous business after 2023, recording a decline in business results at a low level. However, after announcing the first half of 2024 report that was not as expected, ANV's stock price is showing signs of being sold again from July 19 to September 13.
Source: https://baodautu.vn/nam-viet-sap-tra-co-tuc-nam-2023-voi-ty-le-5-d225030.html
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