Thursday, May 28 2020

VietNamNews

Plastic firm sees slight revenue growth in 2020

Update: May, 19/2020 - 16:44

 

A booth displaying Tiền Phong Plastic products. The company expects profit in 2020 will fall slightly to VND470 billion. — Photo tinnhanhchungkhoan.vn

HÀ NỘI — Tiền Phong Plastic JSC (HNX: NTP) is aiming for revenue growth of 6.25 per cent in 2020 to VNĐ5.1 trillion (US$221 million).

Post-tax profits are projected to fall slightly by 0.25 per cent to VNĐ470 billion.

The earnings targets were passed by shareholders at the firm’s annual meeting on May 18.

In 2019, the company earned VNĐ4.8 trillion in revenue and VNĐ471.2 billion in post-tax profit, up 5.95 per cent and 24 per cent on-year.

Shareholders at the meeting also approved the company’s plan to pay a 20 per cent cash dividend for 2019, divided into two payments.

The first payment was made in January 2019 at 10 per cent.

The dividend rate will be kept the same in 2020. In 2018, the company paid a 10 per cent cash dividend and a 10 per cent share dividend.

Charter capital will be raised by 20 per cent through the issuance of 19.6 million shares at VNĐ10,000 apiece this year.

From 2020-25, the company’s board of directors expect revenue to increase 8 per cent and profit to gain 6 per cent compared to 2015-20.

Tiền Phong Plastic shares rose 0.9 per cent to end Tuesday at VNĐ35,300. — VNS

 

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