AsemconnectVietnam - Thanh Cong Textile Garment - Investment - Trading Joint Stock Company (code TCM) has just announced the production and business performance in July and the first 7 months of 2024.

The parent company's business performance in July 2024 was over USD17 million, up 36% over the same period in July 2023. Profit after tax in July reached over USD1.17 million, up 48%.
The Company's textile revenue in July 2024 came from 3 main segments, of which garment products accounted for 80.3%, fabrics accounted for 13.4% and yarn accounted for 5.3% of total revenue.
Cumulative revenue in the first 7 months of 2024 was more than USD91.4 million, an increase of 16% over the same period in 2023 and reaching 58% of the 2024 plan. Profit after tax brought in more than USD7 million, an increase of 32% over the same period in 2023 and estimated to reach 102% of the 2024 plan.
Regarding the export market, in July 2024, the Company's exports to the Asian market accounted for about 62%, of which the Korean market accounted for 35.98%, the Japanese market accounted for 12.97%, Vietnam accounted for 6.71%, China accounted for 2.46%. Next, the American market accounted for about 37%, of which the US market accounted for 24.72%, Canada accounted for 11.44%. The European market accounted for over 1%.
In addition to exporting traditional products, the Company has been promoting product diversification, especially environmentally friendly products, recycled products and high-value products to enhance the product value chain. TCM also expands customers in markets with much room, seeks and expands new customers and markets to increase export revenue, and develops the current and future domestic market. Regarding the order situation, up to now, the Company has received about 90% of the revenue plan for orders in the third quarter of 2024 and about 82% of the revenue plan for orders in the fourth quarter of 2024 and is estimated to have received about 87% of the revenue plan for orders in 2024.
According to the forecast of Vietnam's textile and garment export situation in the last months of 2024 and according to the current order receiving situation of TCM, as well as the expectation that the last months of the year are the festival season and peak season of the textile and garment industry, the Company hopes to achieve the business plan set for 2024.
N.Nga
Source: VITIC/Tinnhanhchungkhoan