AsemconnectVietnam - Phu Tai Joint Stock Company (stock code PTB) has just announced its business results for the fourth quarter of 2024 with both revenue and profit growing exceptionally.

In its separate report, Phu Tai Joint Stock Company said that net revenue from sales and service provision in the fourth quarter of 2024 reached more than VND644 billion, an increase of 14.3% over the same period in 2023; profit after tax reached more than VND189.3 billion, an increase of nearly 84%.
In the whole year of 2024, revenue from separate business activities reached VND1,924 billion, profit after tax reached more than VND281 billion, a slight decrease of 9.5% in revenue but a 30% increase in profit compared to the previous year.
In the consolidated financial report, PTB's revenue in the fourth quarter of 2024 reached VND2,080 billion, an increase of 33% over the same period in 2023; consolidated profit after tax reached VND93.7 billion, an increase of 436.35% over the same period in 2023.
Explaining the reason for the strong growth in revenue and profit after tax in the fourth quarter of 2024, the Company said that the consumption output of the stone and wood industry increased compared to the same period, while financial expenses and interest decreased compared to the same period and foreign exchange rate differences increased compared to the same period, contributing to the increase in profit after tax compared to the same period. In addition, in the fourth quarter of 2023, the Company's profit decreased sharply due to the provision for bad debts of the customer Noble House Home Furnishings LLC.
By the end of 2024, PTB's consolidated revenue will reach VND6,466 billion, after-tax profit will reach VND379.3 billion, up 15% in revenue and 46.2% in profit compared to the results of 2023.
As of December 31, 2024, PTB has total assets of more than VND5,488 billion, up 4.2% compared to the beginning of the year. Owner's equity will reach more than VND3,033 billion, up more than 9.2% compared to the beginning of the year. Undistributed after-tax profit by the end of 2024 will reach more than VND586.2 billion.
Regarding outstanding debt, as of December 31, 2024, PTB has a payable debt of more than VND2,454 billion, accounting for 44.7% of total capital, mainly short-term debt (VND2,339 billion).
N.Nga
Source: VITIC/Tinnhanhchungkhoan