Plastic firm sees slight revenue growth in 2020

Tuesday, May 19, 2020 16:44

A booth displaying Tien Phong Plastic products. The company expects profit in 2020 will fall slightly to VND470 billion. — Photo

Tien Phong Plastic JSC (HNX: NTP) is aiming for revenue growth of 6.25 per cent in 2020 to VND5.1 trillion (US$221 million).

Post-tax profits are projected to fall slightly by 0.25 per cent to VND470 billion.

The earnings targets were passed by shareholders at the firm’s annual meeting on May 18.

In 2019, the company earned VND4.8 trillion in revenue and VND471.2 billion in post-tax profit, up 5.95 per cent and 24 per cent on-year.

Shareholders at the meeting also approved the company’s plan to pay a 20 per cent cash dividend for 2019, divided into two payments.

The first payment was made in January 2019 at 10 per cent.

The dividend rate will be kept the same in 2020. In 2018, the company paid a 10 per cent cash dividend and a 10 per cent share dividend.

Charter capital will be raised by 20 per cent through the issuance of 19.6 million shares at VND10,000 apiece this year.

From 2020-25, the company’s board of directors expect revenue to increase 8 per cent and profit to gain 6 per cent compared to 2015-20.

Tien Phong Plastic shares rose 0.9 per cent to end Tuesday at VND35,300. — VNS

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