Cancel
Companies

An Cuong Wood to list neary 134 mln shares on HOSE

Dai Le Wednesday | 09/28/2022 15:22

Photo : An Cuong Wood

An Cuong Wood-Working JSC will list 135.85 million shares on the Ho Chi Minh City Stock Exchange (HoSE) on September 28.

An Cuong Wood-Working, which holds 55% of the market for decorative materials and industrial wood, announced the first six month revenue of VND1,915 billion ($80 million), up  12% and a 17.4% increase in after-tax profit to VND279 billion ($11.7 million).

Since this firm enjoys the benefit of name and brand recognition in the industry, leadership claimed that they are not particularly interested in the low-end category.

With an aim of building 30 more showrooms between 2022 and 2025, the Vietnamese enterprise An Cuong Wood already operates almost 30 showrooms around the country, mostly in Hanoi, Da Nang, and Ho Chi Minh City.

Builders, construction units, and agents account for 69% of the income generated by customers, followed by export customers (15%), consumer customers (5%), and real estate developers like Vingroup (11%). As of June 30, there were 2,962 persons working for the entire firm.

To enhance capacity, the firm is marketing the export market. With a concentration on the US, An Cuong Wood has exported goods to 15 nations.

By 2025, it's anticipated that exports would account for 15–18% of overall income. The firm aspires to generate $300 million in sales by 2025 through a strategy of consistently growing its product line and finding new markets.

The profit after tax for An Cuong Wood- Working is VND947 billion ($40 million). The business continues to invest an additional VND393 billion ($16.5 million) in the first half of 2022 to acquire 30% of Central Hill Real Estate Company.

The leadership determined that the goal of VND550 billion ($23 million) in profit was realistic and anticipated that it will be exceeded by 10% to 20%. This will be the wood industry's finest outcome ever.

Same category news

Hot news of the day

Latest news