Quang Ngai Sugar JSC (QNS) forecasts its revenue in 2019 at VND8.4 trillion (US$368.8 million) and post-tax profit at VND200 billion.

Next year’s revenue is a bit higher than this year’s estimate of VND8.35 trillion, according to the company’s resolution published last week. But 2019 post-tax profit is about one-fifth of this year’s number, which is forecast at VND1.1 trillion. The firm did not mention the reason for such slump in post-tax profit in 2019.

2018’s expected earnings are up 9.4 per cent year on year in revenue and up 7 per cent year on year in profit. In the first three quarters, QNS recorded VND6.14 trillion in revenue and VND788 billion in post-tax profit, which increased by 3.5 per cent and 15.2 per cent year on year.

According to the company, reasons for a strong boost in its third-quarter profit included higher sugar production for 2017-18 season, which was 50 per cent higher than 2016-17 season, and the efficient operation of its soybean production line. — VNS