A booth of Vicostone at the recent Melbourne Home Show. — Photo courtesy of the company

HÀ NỘI — Engineered stone manufacturer Vicostone reported weaker first-quarter results as global economic uncertainty, high interest rates and geopolitical tensions dampened construction demand across its key export markets.

The company estimated net revenue at VNĐ744.44 billion (more than US$28.25 million) in the first quarter of 2026, down 27 per cent year-on-year, while pre-tax profit fell 24 per cent to VNĐ149.52 billion ($5.7 million), according to company figures.

Vicostone said global conditions remained complex and unpredictable, citing escalating conflicts in the Middle East, volatile energy prices, supply chain disruptions and persistent inflationary pressures.

High interest rates in major economies, including the US, Canada and Europe, continued to weigh on new construction activity, with investors remaining cautious amid rising financing costs, the company said.

The global construction sector showed only a slow and uneven recovery in early 2026. Developed markets have yet to show clear signs of a rebound, while growth in other regions has not been strong enough to offset broader weakness.

Vicostone added that rising input costs and intensifying competition further contributed to a challenging international business environment, prompting more cautious project deployment across the industry.

In response, the company said it has stepped up activities in key markets, such as the US, Canada, Europe and Australia, focusing on expanding distribution, diversifying markets and improving operational efficiency.

On product development, Vicostone said it continues to invest in research and design, with a focus on products aligned with market demand.

Despite the headwinds, the company said it remains committed to a sustainable development strategy centred on efficiency, risk management and higher-quality growth. With a solid financial position, a strengthened distribution network and a clear product direction, Vicostone expects to benefit as the market gradually recovers. — VNS