AsemconnectVietnam - Thien Long Group Corporation (code TLG - HOSE) has just announced its business results for October and the first 10 months of 2024 with profit exceeding the annual plan by 17%.

Specifically, in October 2024, Thien Long's revenue increased by 24% year-on-year, reaching VND326 billion, driven by a 40% growth in domestic revenue, reaching VND265 billion, while export revenue decreased by 19%, down to VND59 billion.
Gross profit in October 2024 increased by 26% year-on-year, reaching VND137 billion; gross profit margin reached 41.87%, slightly improved compared to 41.32% in October 2023. Meanwhile, selling and administrative expenses (SG&A) increased by 27% to VND109 billion; the SG&A expense/revenue ratio remained stable at 33.38%.
As a result, Thien Long's after-tax profit in October reached VND22 billion, up 10% over the same period last year.
In the first 10 months of 2024, Thien Long recorded revenue of VND3,238 billion, up 7% over the same period last year; of which domestic revenue reached VND2,373 billion, up 3%; and export revenue reached VND866 billion, up 18% over the same period.
The Company's gross profit margin improved to 44.8%, while in the same period it was only 43.66%. However, SG&A expenses increased slightly over the same period to VND913 billion.
After deducting expenses, TLG's after-tax profit for the first 10 months reached VND443 billion, up 27% over the same period last year.
In 2024, the Company plans to have revenue of VND3,800 billion and after-tax profit of VND380 billion. Thus, after 10 months, Thien Long achieved 85% of its revenue target and exceeded the annual profit plan by 17%.
Thien Long said that the Company's peak sales season usually falls in the second and third quarters, while the fourth quarter is the low season. In the fourth quarter, the Company focuses on allocating and recording most of its marketing and branding costs.
N.Nga
Source: VITIC/Tinnhanhchungkhoan