February 10, 2022 | 15:14 (GMT+7)
Vinatex’s net profit rises sharply last year
Vietnam National Textile and Garment Group (Vinatex)’s post-tax profit in the last quarter of 2021 was nearly 500 billion VND (22.03 million USD), tripling the figure recorded in the same period of the previous year.
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Vinatex’s post-tax profit in the last quarter of 2021 was nearly 500 billion VND. |
The group reported net revenue of over 16.09 trillion VND last year, up nearly 16 percent year-on-year, and net profit of 857 billion VND, representing a 2.6-fold rise.
The marked results in the fourth quarter are attributable to the acceleration of production after disruptions due to the COVID-19 pandemic, and material stockpiling since mid-2021 in anticipation of soaring prices, a representative from the group explained.
The group’s net revenue from sales and services in the last three months of 2021 reached over 4.98 trillion VND, a year-on-year increase of 39 percent.
Its turnover from financial activities also jumped by 44 percent to 94.7 billion VND.
Last year, Vinatex completed 93 percent of its pre-tax revenue target, and its pre-tax profit also doubled the set target, reaching 1.46 trillion VND.
Source: VNA