The increase in Revenue and a sharp decrease in Expenses from Financial Activities has helped Sotrans Group earn a high profit in the second quarter of 2021.
According to Sotrans Group’s financial report in the second quarter of 2021, its net revenue has reached nearly VND 761 billion, an increase of 81% compared to the same period, after deducting the cost, its gross profit has reached VND 130.6 billion, an increase of 74% compared to the second quarter of 2020.
In this period, reducing financial expenses, a steep drop from VND 57.4 billion to VND 4.5 billion has helped Sotrans Group achieve VND 74.5 billion profit after taxes. Previously, this figure was a loss of VND 8.2 billion in the same period last year.
VND 70 billion profit after taxes is equivalent to VND 716 EPS. This is the biggest quarterly net profit within the past 5 years of Sotrans Group.
Sotrans Group reports a big jump in profit.
Thus, by the end of the second quarter of 2021, Sotrans Group has completed 57.7% of the revenue target and 63.6% of the profit target.
In 2021, Sotrans Group will be able to strengthen its financial capacity to ensure the ability to invest capital in member companies including Sowatco, Vietstrantimex and Sotrans Logistics in traditional business lines and other potential business lines, as well as continue to complete strategic investment deals being carried out.
In particular, Sowatco is investing in expanding and upgrading Long Binh port to take advantage of opportunities due to the relocation of ICDs in Ho Chi Minh City; Sotrans Logistics is developing its warehouse system in major cities and second-tier cities; and Vietranstimex is focusing on improving operation and exploitation capacity related to wind power and other energy projects; to meet the market demand in the future.
In the tumultuous context of 2020, 2021 due to the Covid-19 pandemic – which has caused the global economy and Vietnam to face unprecedented difficulties. However, all the management team and employees of Sotrans Group have tried our best to turn challenges into opportunities step by step; and have achieved proud results from high growth not only in revenue and profits, but also in the trust of customers and in keeping all the company team’s safety during the pandemic, as well as participate in many activities to join hands with Vietnam to fight the Covid-19 and orient business towards social responsibility and sustainable development.
Congratulations to Sotrans Group with impressive numbers on its business journey!
With the previous preparations from business strategy to personnel and specific action plans, Sotrans Group will successfully conquer 2021 business goals