Truck seller HHS announces lower profits in Q1

April 21, 2016 - 09:00

Truck distributor Hoàng Huy Investment Service JSC (HHS) has announced its after-tax profit in the first quarter of this year dropped 72 per cent over a year to VND54 billion (US$2.4 million).

HÀ NỘI – Truck distributor Hoàng Huy Investment Service JSC (HHS) has announced a 72 per cent drop in after-tax profits in the first quarter of this year to VNĐ54 billion (US$2.4 million).

The sharp fall in the company’s profit came after HHS reported a revenue of VNĐ493.6 billion in the first quarter, a decline of 17 per cent from last year’s number, and a loss of VNĐ200 million in other business activities.

The company’s earnings in the first quarter are equal to 12 per cent and 14 per cent of this year’s targeted revenue and after-tax profit, which are VNĐ4 trillion and VNĐ398 trillion, respectively.

By the end of March, HHS reached total asset of VNĐ3.25 trillion, an increase of VNĐ316 billion from the end of last year. The company’s inventories fell one-third to VNĐ528 billion by the end of the first quarter. — VNS

Tags first quarter HHS low profit

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Surge in overseas forex trading normal

A surge of US$5.9 billion in overseas foreign currency deposits by local commercial banks in the third quarter of last year was normal, said director of the State Bank of Việt Nam’s Forecast and Statistics Department, Tô Huy Vũ.

Economy

VN stocks down on oil prices after Doha talk

Vietnamese shares fell sharply on both local markets yesterday as energy stocks suffered from recent falls in oil prices.

Economy

New criteria for evaluating advanced tech enterprises

Enterprise revenue, average total expenditure and number of workers are some of the factors considered in new regulations for becoming a hi-tech enterprise.

Economy

HCM City industrial output rises 5.7%

HCM City’s Industrial Production Index increased by 5.7 percent in the first quarter, the highest growth rate in the past five years.

Economy

Foreign-owned firm to distribute oil

Japanese oil firm Idemitsu Kosan Co.,Ltd (Idemitsu) and its partner Kuwait Petroleum International Ltd. (KPI) applied to register a joint venture company in Việt Nam to sell petroleum products.

Economy

Foreign currency loans cause firms Q1 headaches

Some of the listed companies with foreign currency loans faced with lower business results in the first quarter this year due to higher prices from forex differences and a ban in foreign currencies lending.

Economy

E-commerce sales surge 37% to $4 billion in 2015

The business-to-consumer (B2C) e-commerce sales in Viet Nam reached US$4.07 billion last year, increasing 37 per cent compared to that of the previous year.

Economy

Local steel companies must become more competitive

The application of trade defence instruments must ensure harmonisation of interests between producers and consumers in the long term, Hồ Nghĩa Dũng, president of the Việt Nam Steel Association said.

Economy

Eco-industry needs incentives

The Vietnam Environmental Industry Association called for the creation of incentives to promote the development of the industry at a conference in Hà Nội last week.