In 2024, Ha Tien Cement set a target of achieving total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. To date, the company has exceeded 90% of its profit target for the whole year.
Ha Tien Cement (HT1) has achieved over 90% of its 2024 profit target.
In 2024, Ha Tien Cement set a target of achieving total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. To date, the company has exceeded 90% of its profit target for the whole year.
Ha Tien Cement Joint Stock Company (Vicem Ha Tien, stock code: HT1) has just announced its Q3/2024 financial report with impressive business results, showing strong growth in both revenue and profit.
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| After nine months, Ha Tien Cement has surpassed 90% of its full-year profit target. (Photo: Le Toan) |
Specifically, the consolidated financial report for the third quarter of 2024 shows that Ha Tien Cement's net sales revenue reached VND 1,638 billion, an increase of nearly 4% compared to the same period last year. Profit after tax reached VND 22.6 billion, marking a significant improvement compared to the loss of VND 10.26 billion in the same period.
According to the company's explanation, the consolidated profit for the third quarter of 2024 increased by more than VND 32.91 billion compared to the same period last year, equivalent to a 320.8% increase, mainly due to a strong increase in the parent company's after-tax profit.
In addition, other factors contributing to this positive result include an 8.5% increase in cement consumption in Q3 2024 compared to Q3 2023, along with a decrease in financial costs of VND 11.97 billion during the period. Notably, interest expenses decreased by VND 21.14 billion thanks to lower borrowing interest rates and reduced outstanding loan balances.
According to the consolidated financial report for the first nine months of the year, Vicem Ha Tien achieved revenue of VND 5,041 billion, a decrease of 4% compared to the same period last year. However, after-tax profit reached VND 43.8 billion, a significant improvement compared to the loss of over VND 37 billion in the same period of 2023.
In 2024, Ha Tien Cement set a target of achieving total revenue of VND 7,032 billion and after-tax profit of VND 23 billion. With the results achieved after 9 months, the company has completed 77% of its revenue plan and exceeded 90% of its profit target for the whole year.
Financially, as of September 30, 2024, Ha Tien Cement's total assets reached over VND 8,245 billion, a decrease of 4.3% compared to the beginning of the year. The company's liabilities amounted to over VND 3,387 billion, primarily consisting of short-term debt with outstanding short-term debt reaching VND 3,366 billion.
Liabilities account for 41% of Ha Tien Cement's total capital. The company's equity stands at VND 4,859 billion, including VND 918 billion in development investment funds and VND 44 billion in undistributed after-tax profits.
Source: https://baodautu.vn/xi-mang-ha-tien-ht1-dat-hon-90-muc-tieu-loi-nhuan-cua-nam-2024-d227948.html
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