Binh Dien Fertilizer (BFC) Q2 profit increased sharply

Binh Dien Fertilizer Joint Stock Company (Code: BFC), a member of Vinachem, has just announced its Q2/2024 financial statements. Of which, net revenue recorded VND 2,916 billion, up 25%. Cost of goods sold was reduced, resulting in gross profit reaching VND 489 billion, up 89% over the same period.

Binh Dien Fertilizer (BFC) achieved record profits in the second quarter of 2024 (Photo TL)

Financial revenue in the period increased 3.7 times, to 8.3 billion. Meanwhile, financial expenses decreased from 42 billion to 27 billion, equivalent to a decrease of 38%. This decrease mainly came from interest expenses, from 36 billion to 17 billion VND.

However, other operating expenses increased significantly. Selling expenses nearly doubled to 184 billion. Business management expenses increased by 30% to 53 billion. As a result, Binh Dien Fertilizer recorded a profit after tax of 168 billion, 3.2 times higher than the previous year.

Accumulated revenue in the first 6 months of the year reached 4,856 billion, up 32%. Profit after tax reached 232 billion, up 7.5 times compared to the previous year. With this result, BFC has completed 68% of the revenue plan and achieved 55% of the profit target for the whole year.

At the end of the second quarter of 2024, BFC's total assets reached VND3,500 billion, a slight increase compared to the beginning of the year. Inventory decreased by 20% compared to the beginning of the year, to more than VND1,200 billion. Total liabilities accounted for VND2,140 billion, much higher than equity.

Source: https://www.congluan.vn/phan-bon-binh-dien-bfc-loi-nhuan-quy-2-tang-manh-post305347.html