Latex price doubled over the same period, Dong Phu Rubber reported a 23% increase in profit

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Dong Phu Rubber (HoSE: DPR) announced its second quarter consolidated financial statements with net revenue up 11% to VND218 billion. Enterprises said that consumption volume in the quarter reached 2,431 tons, up 35%; average selling price was 45.9 million VND/ton, up 50% over the same period last year.

Cost of goods increased lower, so gross profit increased 35% to 56 billion dong. Gross profit margin improved from 21.1% to 25.7%.

Financial revenue decreased by 39% to VND 9.7 billion, financial expenses decreased by 57% to VND 2.5 billion, selling expenses increased by 40% to VND 5.6 billion. At the same time, other activities increased profit from 4.4 billion to 6 billion.

Accordingly, profit after tax reached VND 34.7 billion, up 41% over the same period last year. Profit after tax for shareholders of the parent company reached VND 32 billion, up 23%.

Unit: billion dong

Accumulated in the first half of the year, the company recorded revenue of VND 420 billion, up 41%; profit after tax is 86 billion dong, up 66%. However, compared to the annual plan, the unit only achieved 25% of the pre-tax profit target.

At the end of the period, short-term financial investments increased by 25.7% to VND 624 billion, mainly in deposits. In contrast, receivables dropped sharply from VND 146 billion to VND 75.5 billion, and other short-term receivables decreased from VND 101 billion to VND 41 billion.

Dong Phu rubber sharply reduced short-term loans from 104 billion VND to 20.9 billion VND, long-term loans decreased from 105 billion VND to 78 billion VND. Total debt has decreased by 110 billion VND, down nearly 53% compared to the beginning of the year.

Source: – Translated by