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Thien Long (TLG) earned VND28 billion profits in August 

 Wednesday, October 25,2023

AsemconnectVietnam - Thien Long Group Joint Stock Company (stock code TLG - HOSE) has just announced the Company's August production and business situation.

In the first 8 months of the year, Thien Long Group's net revenue reached VND2,511 billion, down slightly over the same period and profit after tax reached VND305 billion, down 23%.
In August alone, Thien Long recorded net revenue of VND293 billion, down nearly 9% compared to the same period last year. Accordingly, profit after tax decreased by more than 30%, to VND28 billion. However, this profit is still 3 times higher than last month's result.
In 2023, Thien Long plans to have VND4,000 billion in revenue and VND400 billion in profit after tax. Thus, after 8 months, the Group has achieved 63% of revenue targets and 76% of annual profit targets.
Thien Long said that Vietnam's economy in 2023 will be affected by complex and unpredictable factors, leading to the retail industry facing many difficulties. For stationery products, the need for investment and stockpiling of goods at points of sale did not increase much compared to last year. Export business, especially OEMs (units specializing in carrying out production work according to partners' orders), is also facing many challenges from the gloomy context of the international market.
The Group has deployed many early marketing programs to distributors to boost sales and revenue. Gross profit margin was maintained at 44% due to changes in sales structure.
Sales and business management expenses in the first 8 months of 2023 increased by 14% over the same period last year because TLG invested heavily in human resources from mid-2022 to prepare for future development. In the early part of 2023, TLG also increases sales and brand development costs to get ready for the peak season of the year.
Source: VITIC/Tinnhanhchungkhoan


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