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Vicostone's revenue and profit both declined against the same period

Saturday - 21/07/2018 03:06
Vicostone Joint Stock Co (Ticker: VCS) reported that in the first 6 months, the company's revenue was posted at VND 2,152 billion, slightly lower than the same period last year. After-tax profit reached VND 520 billion, a decrease of 10% by 2017 the company is reimbursed some taxes.
Explaining the decline in sales, Vicostone said not because of reduced market demand but because of competition, the price was adjusted down from 4 to 8% depending on the product group. By the end of the second quarter, the company's inventories were VND 1,914 billion, up VND 400 billion compared with the beginning of the year, of which the increase in inventories of raw materials and goods.

Excluding  turnover of housing project, the company's revenue for the first six months grew only 11%, but before-and-after-tax profit of core business increased by 25% and 21% .

In early July, the Board of Directors approved a plan to buy up to 1% of the outstanding shares to subsidize after the VCS share price fell sharply (45% set in April). With total volume of 160 million shares, Vicostone is expected to buy 1.6 million treasury shares. This plan was approved by the State Securities Commission, but the management then stopped implementing the plan.

Currently VSC shares are about VND 88,000 . VSC has the highest earnings per share (EPS) in the sector, with a dividend payout ratio of 40-50%. In 2017, VSC is in the top 3 stocks with the highest trading floor price on the stock market, at the time of VND 250,000.

Source: Nguyễn Hà - Vnexpress

 Tags: VCS, Vicostone

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