(CLO) Despite revenue growth, Vinacafe Bien Hoa's (VCF) Q3 profit still decreased by 10% compared to the same period.
Vinacafe Bien Hoa Joint Stock Company (Code: VCF) has just announced its Q3/2024 financial statements. Of which, net revenue reached 605.3 billion VND, up 10.5% over the same period. Gross profit was 111.7 billion VND, equivalent to a gross profit margin of 18.4%.
During the period, financial expenses reached VND 25.2 billion, a slight increase over the same period. Financial expenses were VND 2.8 billion, with interest expenses accounting for more than VND 2 billion. Sales expenses and business management expenses accounted for VND 1.5 billion and VND 5 billion, respectively, in Q3/2024.
Vinacafe Bien Hoa (VCF) Q3/2024 profit decreased by 10% despite revenue growth (Photo TL)
After deducting expenses and taxes, Vinacafe Bien Hoa's after-tax profit was 100.6 billion VND, down 10% over the same period.
Vinacafe Bien Hoa's accumulated revenue in the first 9 months of the year reached VND1,667.3 billion, up 8.1%. Accumulated profit after tax reached VND287.3 billion, down 6.4% compared to the previous year.
At the end of the third quarter of 2024, Vinacafe Bien Hoa's total assets reached VND 2,351.2 billion, down 11% compared to the beginning of the year. Of which, short-term assets accounted for VND 1,282.8 billion. Cash decreased sharply by 3 times, from VND 277 billion to more than VND 95 billion.
The deposit of more than 130.4 billion is now only recorded at more than 400 million VND while the securities investment of 194 billion VND at the beginning of this year is no longer on the financial statements.
Regarding capital structure, Vinacafe Bien Hoa recorded a sharp decrease in equity of nearly VND400 billion compared to the beginning of the year. Mainly due to the decrease in undistributed profit after tax from VND1,603.5 billion to VND1,226.3 billion. Liabilities accounted for VND615 billion, showing that the company mainly operates from equity instead of using financial leverage.
Source: https://www.congluan.vn/vinacafe-bien-hoa-vcf-doanh-thu-tang-lai-quy-3-2024-van-suy-giam-10-post317488.html
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