Phenikka Group and its member Vicostone Joint Stock Company were honoured among Viet Nam’s 500 most profitable enterprises this year during an award ceremony in Ha Noi on Thursday.

Compiled by Vietnam Report and VietnamNet online newspaper, the Vietnam Profit 500 recognised these enterprises based on several main indicators reflecting their profitability such as return on asset (ROA), return on equity (ROE), return on revenue (ROR), pre-tax profit and revenue.

The companies appearing in the Vietnam Profit 500 were capable of generating healthy profits and contributing to the overall economic development of the country, supporting Vietnamese brands both at home and abroad.

Phenikka Group and Vicostone JSC ranked 59th and 67th, respectively, in this year ranking.

In 2010-19, Pheniakka Group experienced positive business performance with respective growths of revenue and pre-tax profit at 169 per cent and 231 per cent.

In 2019, the group’s revenue exceeded VND4.7 trillion (US$202 million) while its pre-tax profit exceeded VND1.81 trillion ($78 million), contributing VND498.6 billion ($21 million) to the State budget. — VNS