VinaCapital Vietnam Opportunity Fund (VOF), the flagship fund of VinaCapital, has just sold 190,000 shares of Quang Ngai Sugar JSC (QNS) to reduce its ownership from 6.01 per cent to 5.96 per cent of charter capital.

Previously, on May 30, VOF also sold 600,000 QNS shares to reduce ownership.

In the first quarter of 2023, Quang Ngai Sugar JSC recorded revenue of VND2.13 trillion, up 17.4 per cent over the same period last year. Profit after tax was recorded at VND316.5 billion, up 80.1 per cent.

During Q1, gross profit increased by 23.1 per cent to VND595.72 billion; financial revenue increased by 88.7 per cent to VND71.45 billion; financial expenses rose by 75.8 per cent to VND38.36 billion; selling and administrative expenses decreased by 6.3 per cent to VND273.22 billion. Other activities did not change significantly.

In 2023, Quang Ngai Sugar JSC targets a revenue of VND8.4 trillion, down 2 per cent over the same period last year and profit after tax is expected to reach VND1 trillion, down 22 per cent compared to 2022.

Ending the first quarter of 2023, with a profit of VND316.5 billion, the company completed 31.4 per cent of the yearly plan.

On the stock market, QNS shares are traded at around VND44,600 per share. — VNS