​ A living room is decorated by Vicostone's quartz-based engineered stones. — Photo courtesy of the company

Vicostone Joint Stock Company posted revenue of over VND1.54 trillion (US$69.1 million) in the first quarter of this year, up 12.6 per cent year-on-year or equivalent to 22.7 per cent of the goal set for the whole year.

The company’s pre-tax profit also surged 22.3 per cent year-on-year to VND432.5 billion ($18.6 million) in the period and fulfilling 22.5 per cent of the yearly target, according to its business results released on Wednesday.

Vicostone attributed these positive business figures to the company’s sustainable development strategy, its localisation strategy of raw materials and effective corporate management system and industrial application, as well as assistance from the ecosystem of Phenikaa Group - its mother company.

Amid the outbreak of COVID-19, Vicostone’s total assets surpassed VND6 trillion in 2020, an increase of 8 per cent compared to 2019. Last year, its revenue and pre-tax profit topped over VND5.65 trillion and nearly VND1.67 trillion, respectively.

For the 6th consecutive year, Vicostone paid annual dividend of more than 40 per cent in cash and treasury bills in 2020. That demonstrated the company's commitment to profitability to its shareholders.

Founded in 2002, Vicostone Joint Stock Company specialises in manufacturing and supplying high-quality quartz-based engineered stones under VICOSTONE® Quartz Surfaces brand. The company’s products are shipped to more than 40 countries and territories including the US, Canada, the EU and Australia. — VNS