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Song Hong Garment (MSH) increased revenue, trying to keep orders in Q2/2023 

 Thursday, August 17,2023

AsemconnectVietnam - Accumulated in the first 6 months, Song Hong Garment achieved VND2,179 billion in revenue, and VND139 billion in pre-tax profit.

The financial report of the second quarter of 2023 of Song Hong Garment Joint Stock Company (code MSH - HOSE) showed that sales and service provision revenue reached VND1,541 billion, up 4% over the same period. Since input costs increased by 6% to VND1,342 billion, selling expenses increased by 20% to VND46.4 billion, so even though the Company saved administrative expenses, it decreased by 31% over the same period last year. The company's pre-tax profit reached VND100 billion, down 8% over the same period.
In the second quarter of 2023, the Company continued to sign many orders, so revenue increased, but input costs increased, so profits decreased.
Accumulated in the first 6 months, the company achieved VND2,179 billion in revenue, and VND139 billion in pre-tax profit. This result decreased quite significantly compared to the same period last year. However, looking at the second quarter of 2023, businesses have limited the decline in the first quarter and are gradually regaining growth momentum.
Song Hong Garment said that, in the current difficult context of the textile and garment industry, before consumer demand in major markets declines, the company focuses on three core issues. Firstly, retaining employees, especially the core force; Organizing vocational skills training classes, training human resources for green and digital transformation. Secondly, retaining customers, accept thin profit margins to have jobs for employees and let customers not move elsewhere; Building a reliable, long-term partnership; Tapping into new markets. Thirdly, strictly managing costs, minimizing unnecessary expenses of the business.
Source: VITIC/Tinnhanhchungkhoan


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