Plastic firms experience a division in profit outcomes

Inside a factory of Bình Minh Plastic Joint Stock Company (BMP). - Viet Nam News/ANN

HANOI: The plastic industry is currently experiencing a decline in revenue, but there are notable differences in business performance among enterprises.

Binh Minh Plastic Joint Stock Company reported third quarter 2023 revenue of 926 billion dong, down 38%.

However, profit after tax exceeded 208 billion dong, an increase of more than 19%.

In the first nine months of 2023, Binh Minh Plastics achieved a revenue of 3.7 trillion dong, down 15.8%, but their profit after tax reached 784.1 billion dong, a remarkable 75% increase compared to the same period last year.

The profit exceeded the annual plan by 20% (651 billion dong).

One of the key factors contributing to Binh Minh Plastics’ improved profitability is the advantage they have in input materials.Nawaplastic Industries, a member of the SCG Group (Thailand) and owner of the Long Son Petrochemical Complex, is a shareholder of Binh Minh Plastics.

This help the company import raw materials (petrochemical) at preferential prices from Nawaplastic Industries and maintain a stable supply. — Viet Nam News/ANN

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