Businesses post buoyant profit picture in the year to date

June 16, 2022 | 17:12
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Amid the economic rebound post-pandemic, many businesses aspire rosy profit picture in the second quarter of this year.
Businesses post buoyant profit picture in the year to date
Seafood is among the sectors anticipated to see sharp growth in the second quarter

A string of listed firms has unveiled business results in the first five months this year, with rosy revenue and profit figures.

For instance, according to Truong Thanh Development and Construction Investment JSC, in the first five months of this year, the total power output of hydropower plants belonging to the group reached 97.64 million kWh, setting a 5-year record.

Many sectors, such as seafood, retail, fast-moving consumer goods, power, and industrial real estate are anticipated to post a strong rebound in the second quarter of this year.

The company executives said that, due to climate changes, the water volume flowing into hydropower plants’ water reservoirs in the dry season was nearly the same as in the rainy season.

Therefore, the company eyed a 13-16 per cent hike in its second-quarter revenue to approximate $8.7-8.9 million, while “its profit would break many previous Q2 profit figures," a representative stated.

The Binh Son Refining and Petrochemical JSC (BSR) has also reported very impressive business results.

This year, the company aims to count $3.98 billion in consolidated revenue and $56.3 million in post-tax profit.

In the first five months this year, BSR reaped $2.86 billion in revenue, reaching 72 per cent of the full-year plan, and counted $294 million, an excess of $237.7 million over the full-year profit target.

Soaring demand for fuel consumption post-pandemic and a spike in fuel prices have provided a big impetus to BSR’s growth.

Meanwhile, FPT Digital Retail JSC also forecast a sharp growth in Q2 profits compared to the similar period last year, of which the major driving force came from the rapid expansion of its drugstore network.

This year, the company envisages opening 300 Long Chau drugstores additionally, bringing the total number of such drugstores to about 700-800 units by the end of this year.

Southern-based food maker Sao Ta JSC (FMC) unveiled that its business has flourished since May.

Accordingly, in May the company raked in 422.2 million in sales revenue, up 35 per cent on-year. In the first five months of this year, FMC reported more than $100 million in revenue, showing a double-digit growth on-year.

The company is now in the self-bred shrimp harvesting season which is expected to finish within June, helping it to catch a fine profit growth in the second quarter.

By Yen Thuy

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