Hoa Tho Textile and Garment still achieved 87% of its annual profit plan despite a slight decline in nine-month results.
- 18
- Business
- 22:15 24/10/2023
DNHN - Hoa Tho Textile and Garment's net revenue for the first nine months of the year decreased by 10% to VND 3,579 billion. The company's after-tax profit decreased by 34% compared to the same period last year, reaching 141 billion VND and achieving 87%
Hoa Tho Textile and Garment Group has just released its financial report for the third quarter of 2023, revealing a 9% decline in net revenue compared to the same period last year, to VND 1,269 billion. The quarterly gross profit decreased by 12% to VND 141 billion.
In the meantime, financial costs rose by 29 percent to 18 billion VND, while business management costs rose by 5 percent to 43 billion VND. Consequently, the company's profit after taxes reached nearly 60 billion VND, a decrease of 18% from the third quarter of 2022.
Hoa Tho Textile and Garment's net revenue for the first nine months of the year decreased by 10% to VND 3,579 billion. In contrast, financial revenue increased to nearly 55 billion VND, while financial expenses rose by 28% to 49 billion VND. The company's after-tax profit decreased by 34% compared to the same period last year, reaching 141 billion VND and achieving 87% of its annual profit target.
As of September 30, 2023, the total company assets amounted to 2,491 billion VND. Particularly, inventory represents the largest proportion of the asset structure, having decreased by 26% since the beginning of the year to reach 688 billion VND. However, the company's liabilities have increased from VND 1,510 billion at the start of the year to VND 1,609 billion, primarily due to a VND 1,362 billion increase in short-term debt.
In the first half of 2024, Hoa Tho Textile and Garment anticipates that the market situation will remain weak. Therefore, the company will concentrate on completing ongoing projects without increasing investment in production.
Hoa Tho Textile and Garment's HTG shares will be listed on the HoSE on October 31, 2023, with more than 36 million shares, a par value of 10,000 VND per share, and a total listed value of more than 360 billion copper. Vietnam Textile and Garment Group (Vinatex) currently holds 22,3 million shares, or 61.9% of the charter capital of the company.
P.V (t/h)
Related news
- Are Vietnamese firms overlooking their most valuable “gold mine”?
- Iran Conflict and the “Double Shock” to the Global and Vietnamese Economies
- After 8 years and trillions sent abroad, are uST investors caught in a risky no-exit situation?
- When Cryptocurrency leaves the "Grey Zone": How are Vietnamese investors seeking profits?
- When the tech unicorn dream is undermined by reckless fundraising structures
- From New Year messages of World Leaders to the “new rules” of the Global economy in 2026
- Connecting Leaders, Shaping the Future: Strategic Leadership Planning Meeting – CorporateConnections Hanoi A
- Sunlight - Unilever Vietnam Recognized for Outstanding Contributions to the National Initiative Supporting Women Entrepreneurs
- Deputy Prime Minister Nguyễn Chí Dũng: “The country’s major challenges weigh heavily on my mind — and we must resolve them together.
- Unitsky String Technologies signs cooperation agreements with three Vietnamese partners, opening a new direction for smart mobility and sustainable development
- When artists do business – livelihood is no poetry!
- Before the D‑day to abolish flat‑rate tax: Fear of technology and costs leave small traders struggling to adapt
- Vietnamese enterprises at a crossroads: the impact of a potential US–China deal
- "Digital technicians" must not be forgotten if Vietnam aims to meet its strategic goals
- HDBank: Impressive profit growth, leading in profitability and advancing international integration
- TNI King Coffee sued for over VND 5 Billion in unpaid debts
- VINASME and Jeonnam Technopark Sign MOU on technology cooperation, human resource training, and trade promotion
- Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
Đọc thêm Business
What truly defines corporate value in a rapidly evolving digital era?
In the digital age, corporate value is no longer confined to tangible assets but increasingly resides in brand equity, data, and knowledge - intangible assets that ultimately determine competitive strength.
Are Vietnamese firms overlooking their most valuable “gold mine”?
In the digital economy, corporate value no longer primarily resides in factories or machinery. A growing body of research highlights a fundamental shift in how value is created.
Iran Conflict and the “Double Shock” to the Global and Vietnamese Economies
The outbreak of conflict in Iran since late February 2026 is sending significant shockwaves through the global economy.
After 8 years and trillions sent abroad, are uST investors caught in a risky no-exit situation?
The article “When the Tech Unicorn Dream Is Undermined by Careless Capital-Raising Funds” pointed out legal risks and financial structural issues in the fundraising model related to the uST ecosystem.
When Cryptocurrency leaves the "Grey Zone": How are Vietnamese investors seeking profits?
From a market operating in the "grey zone," cryptocurrency in Vietnam is entering a phase of reshaping as a series of Government orientations, decrees, resolutions related to digital assets, financial security.
When the tech unicorn dream is undermined by reckless fundraising structures
A green transport technology project in Belarus, thousands of kilometers from Vietnam has continued to attract capital from a significant number of Vietnamese investors.
From New Year messages of World Leaders to the “new rules” of the Global economy in 2026
At a pivotal moment of transition, New Year messages from capitals such as Hanoi, Beijing, Washington and Paris reflect distinct priorities and strategic visions.
Connecting Leaders, Shaping the Future: Strategic Leadership Planning Meeting – CorporateConnections Hanoi A
"Your network is your most powerful flowing asset. It generates value, multiplies opportunities, and accelerates your influence across borders."
Innovative ESG enterprise: Trạm Xe Việt startup proposes solutions to build a green mobility ecosystem
As Vietnam commits to achieving Net Zero by 2050 and tightens emissions standards, the transportation sector faces unprecedented pressure to transform.
Deputy Prime Minister Nguyễn Chí Dũng: “The country’s major challenges weigh heavily on my mind — and we must resolve them together.
On the morning of November 26, 2025, Deputy Prime Minister Nguyễn Chí Dũng chaired a high-level working session at the National Innovation Center (NIC) in Hòa Lạc.