AsemconnectVietnam - Can Tho Agricultural Technical Supplies Joint Stock Company (stock code TSC) has just announced its third quarter 2024 financial report with a sharp decline in profit.

In the consolidated financial report for the third quarter 2024 of Can Tho Agricultural Technical Supplies Company, revenue was recorded at VND161.7 billion, an increase of 33.3% over the same period last year. However, the cost of goods sold in the period increased sharply (up 33.3% over the same period) to VND128 billion, leading to a gross profit of VND33.7 billion in the period. After deducting all financial expenses, sales expenses, and business management expenses, the company recorded a net profit from business activities of only VND4.67 billion. Profit after income tax reached VND668.4 million while in the same period last year, it was VND1.77 billion, a decrease of 62% compared to the same period last year.
Accumulated in the first 9 months of the year, in the consolidated financial report, the Company recorded revenue of VND458.2 billion, an increase of 33% over the same period last year. Profit after tax in the first 9 months reached VND18.2 billion, 6.2 times higher than the results achieved in the same period last year, an increase of 529.7% over the same period. The Company's positive business results in the first 9 months were mainly due to the positive contribution from the profit in the second quarter of 2024 (profit of more than VND10 billion) and the profit in the first quarter of 2024 of more than VND6.8 billion.
In 2024, the Company targets revenue of VND 672 billion and profit after tax of VND 22.4 billion. With the results achieved in the first 9 months of the year, the Company has completed 68% of the annual revenue plan and 81.2% of the annual profit plan.
The Company's total assets as of September 30, 2024 were recorded at more than VND2,794 billion, a slight decrease of 6% compared to VND2,974 billion at the beginning of the year. Owner's equity reached VND2,451 billion, almost unchanged from the beginning of the year. The Company's liabilities as of September 2024 were more than VND342 billion, of which nearly 72% were short-term debts (reaching VND245.2 billion).
N.Nga
Source: VITIC/Tinnhanhchungkhoan