AsemconnectVietnam - F.I.T Group Joint Stock Company (stock code FIT) recorded a sudden increase in revenue and profit in the first 6 months of 2024.

In the consolidated financial report, in the second quarter of 2024, FIT Group Joint Stock Company recorded sales revenue of more than VND468 billion, an increase of 21% over the same period last year; profit reached VND52.4 billion, while in the same period last year, it lost more than VND173.6 billion.
In the first 6 months of 2024, FIT achieved more than VND877 billion in revenue, an increase of 21.4% over the same period last year. Profit after tax reached VND124.3 billion, an increase of 277% over the same period last year.
Explaining the reason for the strong profit growth in the first half of the year, the company said that the total profit after tax in the first half of 2024 increased by VND91.4 billion compared to the same period last year due to the parent company's profit after tax increasing by VND61.8 billion and the profit after tax in the first half of 2024 of its subsidiaries increasing by VND71.2 billion. FIT said that accounting entries excluding other internal transactions reduced profit after tax by VND41.6 billion.
As of June 30, 2024, FIT's total assets reached VND7,432 billion, a slight decrease of nearly 4% compared to the figure at the beginning of the year. FIT's liabilities accounted for more than 20% of total capital with total outstanding debt by the end of June 2024 being more than VND1,514 billion, short-term debt accounted for nearly 80% of FIT's total outstanding debt with more than VND1,206 billion.
FIT's equity as of June 30, 2024 was VND5,908 billion, a slight increase of VND122 billion compared to the figure at the beginning of the year. FIT's undistributed profit after tax as of the end of June 2024 reached more than VND265.7 billion, a sharp increase compared to VND176 billion at the beginning of the period, corresponding to a profit increase of more than 50.3%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan