Son La Sugar Joint Stock Company (Ma: SLS) achieved 13.3% of the revenue plan and over 56% of the profit target after the first quarter of the fiscal year 2020-2021.
Son La Sugar Joint Stock Company (Ma: SLS) has just announced its first quarter business results of fiscal year 2020-2021 (from July 1 to September 30, 2020) with revenue reaching nearly 108.7 billion, down 30.3% over the same period last year.
During the period, SLS’s COGS dropped strongly by 33.5% to 86.3 billion dong; interest expense also decreased by 25.7% to 9 billion dong; Selling expenses are reduced by more than half compared to the first quarter of fiscal year 2020.
While revenue from financial activities increased by 48.2%, SLS helped record after-tax profit of 14.58 billion dong, up 7.5% YoY to 13.56 billion dong.
In the company’s revenue structure, revenue from sugar products, molasses is the main contributor with more than 99% of total revenue, reaching 108.3 billion VND. The rest is from kiln ash, fresh mud, agricultural products, petroleum.
According to the document of the Annual General Meeting of Shareholders 2020, for the period of 2020 – 2021, SLS set a target of 816 billion dong of revenue, 26 billion dong of profit after tax; decreasing by 22% and 78% compared to the previous year.
Thus, with the current results, SLS has fulfilled 13.3% of its revenue plan and more than 56% of its profit target after the first quarter of fiscal year 2020-2021.
At the end of September, the SLS Board of Directors issued a resolution on paying dividends in 2019 – 2020 at the rate of 70% / share, that is, for each owned share, shareholders receive 7,000 VND. Time to pay dividends from 11/10. The disbursed capital is the remaining undistributed after-tax profit in 2019-2020.
Previously, in the fiscal year of 2019-2020, Son La Sugarcane reached 1,048 billion VND in revenue, up 19.5% over the previous year and exceeding 21.3% of the year plan. Profit after tax reached 119.3 billion, up 88.8% over the same period and 4.7 times higher than the target for the whole year.
Source: vietnambiz.vn – Translated by fintel.vn