Particularly in the second quarter, HII’s profit after-tax reached VND 34 billion (~$ 1.4 million), 2.4 times higher over the same period.
An Tien Industries Joint Stock Company (HII) – a member of An Phat Bioplastics JSC (HoSE: AAA) has just announced the business results for the second quarter and the first six months of 2021 with both revenue and profit increased compared to the first half of 2021.
Specifically, in the second quarter, HII’s net revenue reached more than VND 2,179 billion (~$ 92.7 million), double the same period last year thanks to improving production efficiency and trade activities over the same period, leading to an increase in sales revenue of nearly VND 1,000 billion (~$ 42 million) as of figures recorded in the second quarter of 2020.
Cost of goods sold also increased, but gross profit still reached VND 152.5 billion (~$ 6.4 million), 2.7 times higher than in the second quarter of 2020.
During the period, selling and administrative expenses increased by 204% and 67% respectively, resulting in HII profit after tax of VND 34 billion (~$ 1.4 million), 2.4 times higher than the result of Q2/2020.
In the first 6 months of 2021, HII’s net revenue reached more than VND 3,461 (~$ 147 million), up more than 84% over the same period, profit after tax reached VND 63.5 billion (~$ 2.7 million), nearly 3 times higher than in the first half of last year. Meanwhile, AAA’s profit after tax reached VND 48.4 billion (~$ 2 million).
In 2021, HII sets business targets with a total revenue of VND 4,000 billion (~$ 170 million), profit after tax of VND 70 billion (~$ 2.9 million), a slight decrease of 2.2% and an increase of 32% respectively compared to last year.
Thus, by the end of the second quarter, HII has completed 86.5% of the revenue target and 91% of the 2021’s profit plan.
In 2021, HII plans to focus on improving the capacity of old factories such as importing 3 more stone powder grinding machines and 1 powder coarse grinding machine and mass production. The output of stone powder is expected to increase from 8,000 tons per month to 16,000 tons per month.
On the other hand, the Company plans to expand the warehouse, optimize the warehouse area; consider buying 2 more Ancal machines if output is maximized and profit margin is maintained. Consumption output reached 130,000 tons of additives and stone powder per year.
(According to Nhipsongkinhte Newspaper)