AsemconnectVietnam - The net profit for the whole year of 2024 of Lam Thao Super Phosphate and Chemicals JSC (code LAS) reached VND170 billion, up 15% compared to 2023 and exceeding the full-year profit target by 59%.

In the fourth quarter of 2024, LAS achieved VND604.2 billion in net revenue, up 10% over the same period last year. However, due to a stronger increase in cost of goods sold of 20%, the company's gross profit decreased by 9%, to VND173.5 billion.
The main reason is that the domestic supply of Apatite ore is increasingly scarce and not enough for production, while the Company has to buy more raw materials with high nutritional P2O5 content to add to fertilizers, causing the cost of goods sold to increase.
After deducting nearly VND6.5 billion in financial expenses, VND64 billion in sales expenses and VND77 billion in business management expenses, LAS reported a profit after tax of more than VND17 billion in the fourth quarter of 2024, down more than 68% compared to the same period in 2023.
Although the fourth quarter profit fell sharply, LAS's net profit for the whole year of 2024 still reached VND170 billion, up 15% compared to 2023; while net revenue only increased slightly to VND3,466 billion.
In 2024, LAS plans to do business with a revenue target of VND3,400 billion and pre-tax profit of VND 136 billion. With pre-tax profit of VND216 billion, LAS has exceeded the annual plan by 59%.
At the end of 2024, LAS's total assets reached nearly VND2,643 billion, up 12% compared to the beginning of the year. Of which, inventories were at VND1,336 billion, accounting for more than half of total assets and up nearly 29%. In addition, LAS also had VND815 billion in short-term financial investments, accounting for 31% of assets and up 15%.
On the other hand, LAS still had VND1,881 billion in payables, up 26% compared to the beginning of the year. In particular, debt was at VND716 billion, up 79%, all of which were short-term bank loans.
N.Nga
Source: VITIC/Tinnhanhchungkhoan