Garment firm reports growth in August revenue

Thursday, Sep 19, 2019 11:03

A TNG garment and textile factory in Thai Nguyen Province. The company has earned VND3.16 trillion worth of revenue in the first eight months. — Photo

TNG Trading and Investment JSC (HNX: TNG) has announced its revenue in August rose 20 per cent yearly to VND553 billion (US$23.8 million).

In August, net profit was VND30 billion.

After eight months, the firm’s revenue and net profit were up 34 per cent each year on year to VND3.16 trillion and VND157 billion.

In 2019, the company has operated one new factory and another is expected to start running in the fourth quarter of the year.

With the two new factories, TNG will have the biggest cotton production in the north.

As of August 14, total garment and textile contracts signed were worth VND4.7 trillion, up 13 per cent from this year’s target and 30 per cent higher than last year’s.

After eight months, TNG has fulfilled 76 per cent of both revenue and profit plans targeted for 2019.

The company's shares edged up 0.6 per cent to end Wednesday at VND17,900 per share. — VNS

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