Near the end of the year, many businesses reduce business targets

Thi Nai Port Joint Stock Company (stock code TNP) has just announced the Board of Directors' Resolution on adjusting the 2024 business plan. Accordingly, the annual revenue target is down to 68 billion VND, down 20% compared to the 85 billion VND approved by the company's shareholders at the 2024 Annual General Meeting of Shareholders. At the same time, the pre-tax profit target decreased sharply by 41.67%, down to 14 billion VND compared to the 24 billion VND according to the old plan. According to the company, in the first 9 months of 2024, the volume of goods passing through Thi Nai port decreased significantly compared to the same period last year. At the same time, it is expected that in the fourth quarter of 2024, the port will conduct dredging, so the volume of goods in the last months of the year will decrease, directly affecting revenue and business performance in the year...

Near the end of 2024, many businesses ask shareholders to reduce business targets

Similarly, Khanh Hoa Salanganes Nest Beverage Joint Stock Company (stock code SKV) announced to seek shareholders' opinions in writing to adjust the 2024 production and business plan. Accordingly, the new revenue target is expected to be submitted to shareholders at about VND 1,510 billion, a decrease of nearly VND 200 billion compared to the plan approved at the Annual General Meeting of Shareholders at the beginning of the year. At the same time, after-tax profit decreased to VND 60 billion, a decrease of VND 16 billion compared to the previous plan and the cash dividend payment rate in 2024 decreased to 17.7% instead of 22.4%. The company said that the adjustment to the 2024 business plan was due to the impact of economic recession and rising inflation, causing the demand for goods to decrease. The recent Yagi storm also caused great damage to people and property in the northern provinces, so business activities encountered many difficulties...

A "big guy" in the insurance industry, Bao Minh Joint Stock Corporation (stock code BMI), also submitted to shareholders a plan to adjust down the 2024 profit plan. It is expected that the extraordinary shareholders' meeting to collect opinions will take place on December 27. Bao Minh plans to submit to shareholders for approval a 29% reduction in the 2024 pre-tax profit plan, from VND 377 billion to VND 268 billion; a return on equity (ROE) of 7% instead of 10% and a dividend payout ratio of 7% of charter capital instead of 10% as previously planned. In the third quarter of 2024, Bao Minh recorded a profit after tax of nearly VND 51.2 billion, down 51.9% over the same period last year. Explaining this result, the company said that many customers suffered damage caused by the recent Typhoon Yagi , leading to a sharp increase in compensation provisions during the period, negatively affecting profits in the third quarter of 2024.

Also requesting to adjust down the business target, in September, An Phat Holdings Corporation and An Phat Xanh Plastics Corporation (stock code AAA) both had a resolution of the Board of Directors approving this. For An Phat Holdings, the company adjusted consolidated revenue from 14,000 billion VND to 13,000 billion VND, a decrease of 7% compared to the original target; Profit after tax from 314 billion VND was adjusted to 281 billion VND, a decrease of 11% compared to the old plan. Meanwhile, An Phat Xanh Plastics adjusted consolidated revenue from 12,000 billion VND to 11,000 billion VND, a decrease of 8.33% and profit after tax from 377 billion VND was adjusted to 314 billion VND, a decrease of nearly 17% compared to the old plan...

Source: https://thanhnien.vn/sap-het-nam-nhieu-doanh-nghiep-giam-chi-tieu-kinh-doanh-185241117085315172.htm