TNG records sales up 26 per cent in 2019

Tuesday, Jan 07, 2020 09:41

A TNG garment factory. The company targets to earn VND5 trillion worth of total sales in 2020. — Photo

TNG Investment and Trading JSC has announced total sales in 2019 of VND4.56 trillion (US$198 million), up 26 per cent year on year.

The figure beats the full-year target by 9.7 per cent. It includes VND4.35 trillion worth of exports, up 26 per cent, and VND206 billion worth of domestic sales, up 35 per cent.

The full-year profit is being calculated and the company expects its 2019 profit will grow at a two-digit pace.

TNG eyes sales revenue increasing by 10 per cent to VND5 trillion in 2020 due to the growth of orders from foreign partners.

To achieve the target, the company aims to raise labour productivity and reduce capital costs.

According to the company's chairman Nguyen Van Thoi, total revenue in 2019 was up 26 per cent on-year but labour productivity rose only 10 per cent.

Besides, the company will apply a real-time management system for inventory in an attempt to cut capital costs by 2 per cent to boost profit growth by 2 per cent.

The company is listing more than 62 million shares on the Ha Noi Stock Exchange under the code TNG.

Its shares advanced 1.3 per cent to end Monday at VND15,300 per share. — VNS

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