(CLO) Hoa An Joint Stock Company (Code: DHA) has just announced its business results for the third quarter of 2024 with after-tax profit decreasing by 40% compared to the same period. The company operates mainly on equity capital.
Hoa An Joint Stock Company (Code: DHA) is the predecessor of Hoa An Stone Enterprise with a history of operation from 1980 to present. Hoa An's field of operation is mining and processing of construction stone materials.
In the third quarter of 2024, Hoa An recorded sales and service revenue of VND 61.8 billion, down 31% over the same period last year. According to the company's explanation, the decrease in stone sales volume during the period was the main reason affecting the unit's revenue and profit.
Hoa An Stone (DHA) profit in Q3/2024 decreased by 40% due to decreased mining output (Photo TL)
Hoa An's accumulated revenue in the first 9 months of the year recorded VND 225.6 billion, down 15% over the same period. Profit after tax reached VND 44 billion, also down 42.8% compared to the first 9 months of 2023.
In 2024, Hoa An Stone sets a revenue target of VND 268 billion and after-tax profit of VND 38 billion, down 31% and 56% respectively compared to 2023. Compared to this plan, Hoa An Stone has only completed 88% of the revenue target but has exceeded the profit plan by 15.8%.
At the end of the third quarter of 2024, Da Hoa An recorded total assets of VND 451 billion, down nearly VND 18 billion compared to the beginning of the year. In terms of capital structure, liabilities only accounted for a small amount of VND 31.8 billion, of which the majority were short-term debts, accounting for VND 25.2 billion. Thus, Da Hoa An mainly operated based on equity instead of using financial leverage.
Source: https://www.congluan.vn/da-hoa-an-dha-khong-dung-don-bay-tai-chinh-lai-quy-3-2024-sut-40-post317411.html
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