AsemconnectVietnam - Viet Tien Garment JSC has released the consolidated business results for the first nine months of 2014.

Accordingly, Viet Tien’s net revenue in Jan-Sep was 3.924 trillion dong, up 7.5 percent year-on-year. Thanks to the improvement in the proportion of the share capital price/net revenue, the company’s gross profit reached 556 billion dong, up 18.6 percent year-on-year.

In order to achieve the revenue growth as mentioned above, the company’s sales and management cost in the period increased from the same period last year. As a result, Viet Tien reported the 9-month profit at 221 billion dong, up nearly 145. The Basic Earnings per Share (EPS) were 7,893 dong each.

The cash flow for business activities in the first nine months of the year touched 225 billion dong, nearly enough for the company to spend on investment activities, in which the most remarkable one was the expenditure on short-term investments and the capital contribution to other units (214 billion dong). The balance of cash and cash equivalents at the end of Q3 got to 281.4 billion dong, down 13 percent from the balance at the beginning of the year.

Viet Tien Garment is known to one of the “dear sons” of Vietnam National Textile and Garment group (Vinatex) which has always ranked the first in terms of garment export.

N.Nga

Source: Cafef