In 2024, Ha Tien Cement aims to achieve total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. To date, the Company has exceeded 90% of the annual profit target.
Ha Tien Cement (HT1) achieved more than 90% of its profit target for 2024
In 2024, Ha Tien Cement aims to achieve total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. To date, the Company has exceeded 90% of the annual profit target.
Ha Tien Cement Joint Stock Company (Vicem Ha Tien, stock code: HT1) has just announced its financial report for the third quarter of 2024 with impressive business results when both revenue and profit grew strongly.
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| After 9 months, Ha Tien Cement has exceeded 90% of its annual profit target. (Photo: Le Toan) |
Specifically, the consolidated financial report for the third quarter of 2024 shows that Ha Tien Cement's net revenue from sales reached VND 1,638 billion, up nearly 4% over the same period last year. Profit after tax reached VND 22.6 billion, marking a strong improvement compared to the loss of VND 10.26 billion in the same period.
According to the company's explanation, the third quarter 2024 profit in the consolidated report increased by more than VND 32.91 billion over the same period, equivalent to an increase of 320.8%, mainly due to a sharp increase in the parent company's after-tax profit.
In addition, other factors contributing to this positive result include an 8.5% increase in cement consumption in Q3/2024 compared to Q3/2023, along with a decrease in financial expenses during the period of VND 11.97 billion. In particular, interest expenses decreased by VND 21.14 billion thanks to lower interest rates and reduced loan balances.
Accumulated in the first 9 months of the year, according to the consolidated financial report, Vicem Ha Tien achieved revenue of VND 5,041 billion, down 4% compared to the same period last year. However, profit after tax reached VND 43.8 billion, significantly improved compared to the loss of more than VND 37 billion in the same period in 2023.
In 2024, Ha Tien Cement aims to achieve total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. With the results achieved after 9 months, the company has completed 77% of the revenue plan and exceeded more than 90% of the annual profit target.
In terms of finance, as of September 30, 2024, Ha Tien Cement's total assets reached more than VND 8,245 billion, down 4.3% compared to the beginning of the year. The company's liabilities were more than VND 3,387 billion, mainly short-term debts with short-term debt balance reaching VND 3,366 billion.
Liabilities account for 41% of Ha Tien Cement's total capital. The company's equity reaches VND4,859 billion, including VND918 billion in development investment fund and VND44 billion in undistributed profit after tax.
Source: https://baodautu.vn/xi-mang-ha-tien-ht1-dat-hon-90-muc-tieu-loi-nhuan-cua-nam-2024-d227948.html
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