AsemconnectVietnam - Thien Long Group Joint Stock Company (code TLG - HOSE) just announced its business results for January 2024 with profit after tax growing up to 57% over the same period.

In the first month of 2024, Thien Long's revenue and profit after tax generally had a slight recovery. Specifically, total net revenue increased by 10% over the same period, reaching VND241 billion; Of which, export revenue increased by 3% and domestic revenue increased by 17%.
Gross profit for the month also reached VND101 billion, an increase of 13%. Profit margin increased slightly from 41% to 42%.
TLG said that the positive developments in business results in January 2024 come from the context that this year's Tet holiday falls in February instead of January like last year; At the same time, the need to reserve goods at grocery stores and bookstores also increased slightly again. The Group's OEM export business also recovered slightly in early 2024.
Meanwhile, sales and management expenses in the month only increased by 5% over the same period, to VND80 billion; resulting in the Group's after-tax profit increasing by 57%, reaching VND18 billion.
However, Thien Long noted that the business results in January in particular and the first quarter in general do not clearly show the Group's revenue and profit trends for the whole year because this is not the peak season for business and implementing the Group's brand promotion campaigns. As a result, many commercial and marketing costs remain unrealized and unrecorded.
N.Nga
Source: VITIC/Tinnhanhchungkhoan