Century Fiber's profit in the third quarter was 5 times higher than the same period last year.

Century Fiber's after-tax profit was VND81.8 billion, 5 times higher than the same period last year and the highest quarterly profit since being listed on the stock exchange.

The consolidated financial report for the third quarter of 2024 of Century Fiber Corporation (stock code STK) recorded net revenue of nearly VND 307 billion, down 19% year-on-year. Gross profit for this period was more than VND 52 billion, down 7% year-on-year. However, gross profit margin reached 17%, while in the same period it was only approximately 15%.

Sales and administrative expenses were both reduced compared to the same period last year. Specifically, sales expenses decreased by 66% to VND2.3 billion, while administrative expenses decreased by 5% to VND14.3 billion.

Thanks to unrealized exchange rate differences, Century Fiber reported a profit after tax of nearly VND82 billion, five times higher than the same period last year. This is the company's highest quarterly profit since it listed on the stock exchange in 2015.

Accumulated for 9 months , Century Fiber recorded net revenue of 876 billion VND, down 18% compared to the same period last year. Gross profit was approximately 98.9 billion VND, down 26% compared to 134 billion VND in the same period. Gross profit margin reached 11%.

The company reported pre-tax profit of VND29 billion and after-tax profit of VND26.8 billion, both down more than 48% compared to the same period in 2023 due to a loss of VND55 billion recorded in the first half of this year.

Compared to the annual revenue plan of more than 2,700 billion VND and after-tax profit of more than 300 billion VND, Century Fiber has completed 32% and 9% of the set targets, respectively.

At the annual meeting, the company's Board of Directors admitted that the target of 90% revenue growth compared to the previous year was "quite stressful". The results in the first phase of the year were not good, so the company forecasted that it would be difficult to exceed the set plan, but it is making efforts to reach close to the plan with a not too large difference.

“The order situation will gradually recover from the second quarter when brands are preparing to serve the spring-summer season of 2025. These orders will be delivered and revenue will be recorded in the second half of 2024," said the Board of Directors of Century Fiber.

As of the end of September 2024, the company's total assets were over VND 3,701 billion, an increase of over VND 700 billion compared to the beginning of the year. Long-term assets accounted for the majority of the company's asset structure with about VND 2,663 billion. Liabilities were over VND 1,979 billion, most of which were short-term items. Owner's equity was nearly VND 1,722 billion, and undistributed profit after tax was nearly VND 690 billion.

Source: https://baodautu.vn/soi-the-ky-lai-quy-iii-gap-5-lan-cung-ky-d228192.html