Dong Nai Port Joint Stock Company earns an average profit of 1 billion VND per day

Dong Nai Port Joint Stock Company earns an average profit of 1 billion VND per day.

Dong Nai Port reported a profit after tax in the third quarter of 2024 of 90 billion VND, an increase of nearly 12% over the same period, equivalent to a profit of more than 1 billion VND per day.

According to the recently released third quarter financial report, Dong Nai Port Joint Stock Company (stock code: PDN) recorded net revenue of approximately VND333 billion, up 11% over the same period last year. Gross profit for this period was over VND128 billion, up 8.5% over the same period. Gross profit margin accordingly reached 38.4%.

Financial and sales expenses were both cut sharply compared to the third quarter of last year. Specifically, financial expenses decreased by 31% to VND1.5 billion, while sales expenses decreased by 37.2% to VND3.6 billion.

After deducting fees, Dong Nai Port reported pre-tax profit of VND111 billion, up 14.4% year-on-year. After-tax profit reached VND90 billion, up 11.8% year-on-year.

In a document sent to the Ho Chi Minh City Stock Exchange (HoSE), the company said that its revenue increased by double digits thanks to the development of complete infrastructure connecting inter-provincial and inter-regional transport in the key economic region of the South, which is increasingly focused on. Dong Nai Port focuses on investing in infrastructure, wharfs, and specialized loading and unloading equipment to handle containerized goods in a timely manner, reducing cargo congestion. In addition, traditional sources of goods such as alumina, wood pellets, and units renting commercial yards for chemicals and coal serving the factory have stable output compared to the same period.

In the first 9 months of the year, Dong Nai Port achieved revenue of 968 billion VND, an increase of more than 16% compared to the same period last year. Gross profit was more than 370 billion VND, gross profit margin reached 38.3%.

The company recorded pre-tax profit of about VND323 billion and after-tax profit of more than VND260 billion, up 22.3% and 21.4% respectively over the same period.

This year, Dong Nai Port is expected to achieve revenue of VND1,217 billion, up 1.8% compared to 2023. Profit after tax is estimated at VND296 billion, up 0.5% compared to last year. After the first 3 quarters of the year, the company has completed 79.5% of the revenue plan and 87.8% of the profit target.

At the 2024 General Meeting of Shareholders, the Board of Directors said that the company will continue to develop logistics services, adding value around the core services of loading and unloading, ICD. The company said it will convince customers who import production materials such as scrap paper, scrap plastic, etc. to use Dong Nai Port thanks to the advantages of customs clearance and border gates.

As of the end of September, the company's total assets were approximately VND1,589 billion, a slight increase compared to the beginning of the period. Short-term liabilities accounted for more than VND877 billion in the company's asset structure. Liabilities were nearly VND436 billion, an increase of 21.4%, equivalent to VND77 billion compared to the beginning of this year. Most of the company's liabilities are short-term.

Dong Nai Port's equity is about 1,153 billion VND, undistributed profit after tax is more than 361 billion VND.

On the stock exchange, PDN shares are currently at VND106,000. Compared to the highest price of the year recorded in mid-July (VND122,500), this code has decreased by 13.5%. The average trading volume in the last 10 sessions is only 340 units. With more than 37 million shares listed on the HoSE, the company's market capitalization is more than VND3,926 billion.

Source: https://baodautu.vn/cong-ty-co-phan-cang-dong-nai-lai-binh-quan-1-ty-dong-moi-ngay-d227612.html