In 2023, Phuoc Hoa Rubber aims to reduce profit after tax by 36%

DNHN - Phuoc Hoa Rubber anticipates that the parent company's total revenue will exceed VND 1,813 billion in 2023, a decrease of nearly 17% compared to 2022; business revenue will reach VND 1,302 billion.

The first meeting of the year was held by the Board of Directors of Phuoc Hoa Rubber Joint Stock Company (PHR/HoSE) to approve the business plan for 2023 and the goals set for several subsidiaries.

The Board of Directors of Phuoc Hoa Rubber anticipates that the parent company's total revenue in 2023 will exceed VND 1,813 billion, a decrease of nearly 17% compared to 2022. In which the rubber business is anticipated to generate VND 1,302 billion in revenue, representing approximately 72% of total revenue.

In 2023, Phuoc Hoa Rubber expects the parent company's profit before and after taxes to decrease by more than 40% and 36%, to VND 549 billion and VND 488 billion, respectively, compared to the previous year. In contrast, the Company still intends to pay a 30% cash dividend for the profit portion of 2023.

In addition to the business plan, Phuoc Hoa Rubber includes a first-quarter 2023 objective. Specifically, the Company expects the parent company's total revenue to reach VND 434 billion and pre-tax profit to reach VND 208 billion, which corresponds to 24% and 38% of the year plan, an increase of 43% in revenue but a decrease of nearly 31% in profit compared to the same period last year.

In addition to the goals for the parent company and rubber business, Phuoc Hoa Rubber also established goals for its subsidiaries in a variety of other industries, including wood trading, leasing industrial parks, and interior trading.

P.V (t/h)