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Cuu Long Fish Corp generated net profit of 113 billion
July 24, 2019, 03:42 PM
Cuu Long Fish Corp., Ltd (HoSE: ACL) has just released its Q2/2019 financial statement to record 817 billion VND of net revenue and 126.7 billion VND of pre-tax profit, increasing 13,3% and 120% respectively over the same period in 2018. Net profit after tax earned 113 billion, 2.2 times higher than the same period in 2018.

Financial statements of ACL in the second quarter of 2019 showed that the company's revenue recorded VND 373.4 billion, down 4.1% compared to the same period in 2018, while the cost of goods sold decreased significantly at 7.6%, helping the gross profit to increase by 6,7% to VND 102.9 billion.

Expenses incurred during the period, selling and management expenses all declined compared to the same period in 2018. As a result, ACL reported pre-tax profit of VND 65.6 billion, up 21% over the same period. Profit after tax was VND 58.7 billion, up 22.5% compared to the same period in 2018.

Accumulated in the first 6 months of 2019, ACL recorded 817 billion VND of net revenue and 126.7 billion dong of pre-tax profit, up 13.3% and 120% compare to the same period in 2018, respectively. Net revenue after-tax of 113 billion, 2.2 times higher than the first 6 months of last year result, equivalent to EPS of VND 4,968.

With the results achieved after half a year, ACL has achieved 51% of the revenue plan and completed more than 70% of the pre-tax profit target set for 2019.

By the end of June, the total assets of ACL have increased by more than 10% compared to the beginning of the year to VND 1,483 billion, mainly coming from inventories. Financial debt also increased slightly compared to the beginning of the year to VND 669 billion, accounting for 45% of total assets. Total assets reached more than VND 1,483 billion, an increase of VND 140 billion compared to the beginning of the year.

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