Wednesday, January 22 2020

VietNamNews

TNG records sales up 26 per cent in 2019

Update: January, 07/2020 - 09:41

 

A TNG garment factory. The company targets to earn VNĐ5 trillion worth of total sales in 2020. — Photo baothainguyen.com.vn

HÀ NỘI — TNG Investment and Trading JSC has announced total sales in 2019 of VNĐ4.56 trillion (US$198 million), up 26 per cent year on year.

The figure beats the full-year target by 9.7 per cent. It includes VNĐ4.35 trillion worth of exports, up 26 per cent, and VNĐ206 billion worth of domestic sales, up 35 per cent.

The full-year profit is being calculated and the company expects its 2019 profit will grow at a two-digit pace.

TNG eyes sales revenue increasing by 10 per cent to VNĐ5 trillion in 2020 due to the growth of orders from foreign partners.

To achieve the target, the company aims to raise labour productivity and reduce capital costs.

According to the company's chairman Nguyễn Văn Thời, total revenue in 2019 was up 26 per cent on-year but labour productivity rose only 10 per cent.

Besides, the company will apply a real-time management system for inventory in an attempt to cut capital costs by 2 per cent to boost profit growth by 2 per cent.

The company is listing more than 62 million shares on the Hà Nội Stock Exchange under the code TNG.

Its shares advanced 1.3 per cent to end Monday at VNĐ15,300 per share. — VNS

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