Vicostone shareholders approve revenue plan for 2024

Monday, Apr 15, 2024 20:27

Vicostone's 2024 Annual General Meeting in Hà Nội last week. — Photo courtesy of the company

Vicostone Joint Stock Company, a member of Phenikaa Group, targets a net revenue of over VNĐ4.6 trillion (US$183 million) in 2024, up 5.71 per cent year-on-year.

The company's pre-tax profit this year is expected to reach over VNĐ1 trillion, 3.45 per cent higher than the previous year.

These goals were approved by the company's shareholders during its 2024 Annual General Meeting in Hà Nội last week.

"These are considered challenging goals, but also a motivation for the company to continue its efforts, do business effectively and realise its sustainable development strategy," Vicostone said in a statement.

Top priority will be given to ensuring sustainable development in environmental, social and governance aspects; improving human resource quality, increasing labour productivity in addition to optimising costs and operational efficiency and enhancing risk management, it said.

Promoting the use of local raw materials, reducing dependence on external supplies, proactively controlling quality and optimising raw material costs will be also included.

According to Vicostone, the world economy and the construction materials industry have shown faint signs of recovery thus far this year. That has continued to strongly affect production and business activities of Vicostone.

Over the past three months, the company's revenue saw a modest increase of 4 per cent to over VNĐ1 trillion.

Earlier, most international organisations and experts lowered their forecasts for global economic growth in 2024.

Amid the current difficult context, Vicostone strives to maintain its position as one the 3 largest global suppliers of engineered stone countertops. — VNS

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