Tay Ninh Rubber (TRC) profit decreased by 7%, just enough to complete the year's target

Tay Ninh Rubber Joint Stock Company - Taniruco (Code TRC) was formerly a French rubber plantation, taken over by the Revolution and named Tay Ninh State Rubber Farm. By 2007, the company's shares were listed and traded on the HOSE. The company operates mainly in the fields of planting, investment, care, exploitation, and processing of raw rubber...

Tay Ninh rubber before profit reduced by 7 just completed the year's target picture 1 — Tay Ninh Rubber (TRC) recorded a breakthrough in Q4 profit, but full-year profit still decreased by 7% compared to the same period. (Photo TL)

Taniruco has just announced its Q4 financial statements with net revenue of VND235.1 billion, up 29% over the same period last year. Gross profit reached VND74.3 billion, equivalent to a gross profit margin of 31.6%.

In the fourth quarter of 2023, financial revenue was only recorded at VND4.2 billion, down 8% year-on-year. Meanwhile, financial expenses increased by 31% to VND4.5 billion. In addition, business management expenses also increased by 44% to VND51.8 billion.

After deducting all expenses, TRC's remaining after-tax profit was 49.7 billion VND, up 68% over the same period. TRC's accumulated revenue in the first 9 months of the year reached 582.1 billion VND, up 11% over the previous year. Profit was recorded at 70 billion VND, down about 7% over the same period. Compared to the annual plan, the company has just completed the annual plan.

Explaining the sudden increase in business results, Taniruco said that it was mainly due to its subsidiary in Cambodia generating profits instead of losses like last year. Taniruco has been planting rubber in Cambodia since 2012.

In the trading session on January 16, 2024, TRC is priced at VND 31,350/share.

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