Recording profit after tax reached 51 billion, up 20% over the same period, but Imexpharm Pharmaceutical only reached about 53% of the year plan.
Imexpharm Pharmaceutical Joint Stock Company (Ticker: IMP) has just announced the results of its third quarter financial statements with net revenue down nearly 11% over the same period in 2019.
Cost of goods sold of this business decreased by 15% to 176 billion. Cost of goods sold decreased stronger than revenue, so gross profit decreased only 5% compared to the third quarter of 2019.
Gross profit margin in the quarter reached 39.3%, slightly improved from 36.7% in the same period last year. Profit after tax in the third quarter increased by 21%, reaching VND 51 billion.
For the first 9 months of the year, IMP’s net revenue decreased slightly by 4 billion VND to 882 billion VND, equivalent to a decrease of 0.5% over the same period last year.
The majority of IMP’s revenue comes from manufactured products of 837 billion dong, accounting for nearly 95% of revenue, up 3% over the same period in 2019. However, if the first 9 months of 2019, revenue deductions are recorded. After 6 billion dong, through 9 months of 2020, this enterprise has to spend 19 billion dong to reduce revenue.
Other profits plummeted in the first 9 months of 2020 due to revenue from asset sales and liquidation reaching more than 2 billion VND, while in this period last year, the company recorded 8 billion VND for asset liquidation.
After the first 9 months of 2020, IMP recorded a 26% increase in profit after tax compared to the same period last year, reaching VND 139 billion. The trailing EPS of IMP is VND 2,849.
In 2020, the company plans to achieve revenue of 1,750 billion VND, pre-tax profit of 260 billion VND in 2020. Thus, after 9 months, IMP has only completed 50.4% of the revenue plan, 53% of the profit plan. .
In terms of scale, the total assets of the company as of September 30 are VND 2,072 billion. In which, accounts receivable, inventory and construction in progress account for more than half.
Total loan debt soared to 197.5 billion dong while at the beginning of the year, it was only 38 billion dong and all were short-term loans from banks.
Source: vietnambiz.vn – Translated by fintel.vn