Vinatex has a sudden profit in the first quarter of the year

According to the financial report of the first quarter, Vinatex achieved 5,152 billion in revenue, up more than 44% over the same period. In which, yarn and garment are the two biggest contributors to the positive business results of the textile “big man”, increasing by nearly 40% and 67% respectively over the same period.

Mr. Cao Huu Hieu, General Director of Vinatex, said that by taking advantage of the market’s advantages from the end of last year, yarn units have all received orders at good prices. Combined with large stockpiles of cotton at low prices since the end of last year, the yarn industry recorded an increase of nearly 40% in revenue. Currently, this industry has completed 63% of the year plan.

For the garment industry, the labor situation is stable because the epidemic has been basically controlled, orders are full, even many units have signed orders until the third quarter of 2022. “The growth of the garment industry has returned to the time in 2019 – when there was no epidemic,” commented Vinatex leaders.

According to the financial report, as of March 31, Vinatex also reduced its inventory by more than 11% compared to the beginning of the year. Goods purchased in transit decreased by 67% and production in progress decreased by 11%.

This year Vinatex sets a target of 17,750 billion dong in revenue and 900 billion dong in profit. Commenting on the second quarter and the last months of the year, Mr. Cao Huu Hieu said that the market still has many unpredictable developments if the Russia – Ukraine conflict remains tense, inflation, and logistics costs escalate… Mr. The group believes that forecasting and closely monitoring the market will be closely monitored by this group to have a scenario and flexibly adjust production and business.

Mr. Minh