Vinatex’s net profit rises sharply last year

Vinatex’s post-tax profit in the last quarter of 2021 was nearly 500 billion VND. (Photo: VNA)

Hanoi (VNA) - Vietnam National Textile andGarment Group (Vinatex)’s post-tax profit in the last quarter of 2021 was nearly500 billion VND (22.03 million USD), tripling the figure recorded in the same periodof the previous year.

The group reported net revenue of over 16.09 trillionVND last year, up nearly 16 percent year-on-year, and net profit of 857 billionVND, representing a 2.6-fold rise.

The marked results in the fourth quarter areattributable to the acceleration of production after disruptions due to theCOVID-19 pandemic, and material stockpiling since mid-2021 in anticipation of soaringprices, a representative from the group explained.

The group’s net revenue from sales and services in thelast three months of 2021 reached over 4.98 trillion VND, a year-on-yearincrease of 39 percent.

Its turnover from financial activities also jumped by44 percent to 94.7 billion VND.

Last year, Vinatex completed 93 percent of its pre-taxrevenue target, and its pre-tax profit also doubled the set target, reaching 1.46 trillion VND./.

VNA