Leading pharma firm DHG reports highest quarterly profit
Hau Giang Pharmaceutical JSC (DHG Pharma) reported an after-tax profit of VND361 billion ($15.36 million) in this year's first quarter, up 41% year-on-year, a quarterly record high in the firm's history.
The company, listed on the Ho Chi Minh Stock Exchange as DHG, posted net revenue of nearly VND1.23 trillion ($52.3 million), up 15%, according to its financial statement.
DHG Pharma's headquarters in Can Tho city, southern Vietnam. Photo courtesy of the company.
In the quarter, the company focused on selling antibiotic, analgesic and antipyretic products like Hapacol, Klamentin, and Haginat. It also actively increased its reserve of raw materials and finished products to meet market demand.
For 2023, DHG Pharma has set a revenue target of VND5 trillion ($212.8 million) and pre-tax profit of VND1.13 trillion ($48.1 million), up 7% and 3% respectively.
As of March 31, DHG's total assets were VND5.5 trillion ($234.24 million), up 6.4% compared to the beginning of the year. Among them, cash and cash equivalents are VND2.54 trillion ($108 million), accounting for 46% of the total assets.
Closing the Friday session, DHG was traded for VND98,900 ($4.21) per share.
- Related News
- Read More
Vietnam gov’t vows to tighten gold market as high prices linger
The Vietnamese government is taking action to tighten control over the local gold market as prices of the precious metal remain high despite the central bank’s resumption of auctions after an 11-year hiatus.
Finance - Wed, May 15, 2024 | 11:14 am GMT+7
Food seasoning firm Vedan earns $174 mln in Vietnam in 2023, down 11%
Food seasoning maker Vedan recorded a revenue of $173.6 million in Vietnam in 2023, down 11% year-on-year, according to the 2023 performance review of the Taiwan-headquartered firm.
Companies - Wed, May 15, 2024 | 11:01 am GMT+7
Nghe An province seeks investors for $38 mln residential project
Nghe An authorities are seeking investors for a VND970 billion ($38.1 million) residential project in the central Vietnam province.
Real Estate - Wed, May 15, 2024 | 8:15 am GMT+7
Denmark seeks to enhance food production dialogue, supply chain with Vietnam
Danish Minister for Food, Agriculture and Fisheries Jacob Jensen is leading a high-level delegation to visit Vietnam from May 14-16, aiming to intensify high-level policy dialogues with Vietnamese counterparts with a focus on a more sustainable food production and a resource-efficient supply chain.
Economy - Tue, May 14, 2024 | 11:01 pm GMT+7
Vietnam’s northern province fines China's JA Solar for illegal construction
Vietnam’s northern province of Bac Giang has issued a fine of VND130 million ($5,107) against JA Solar Ne Vietnam for factory construction without permits.
Companies - Tue, May 14, 2024 | 10:38 pm GMT+7
Former parliament chair aide stripped of Party membership
The Vietnamese Party Central Committee’s Secretariat has decided to expel Pham Thai Ha, assistant to former National Assembly Chairman Vuong Dinh Hue, from the Party.
Politics - Tue, May 14, 2024 | 10:05 pm GMT+7
Mekong Capital’s investee companies expand presence
A number of companies in the investment portfolio of Mekong Capital, a leading fund manager in Vietnam, have expanded their operations in the Southeast Asian country.
Companies - Tue, May 14, 2024 | 7:35 pm GMT+7
Vietnam welcomes Chinese high-tech investments: PM
Vietnam welcomes major investments from Chinese business giants, particularly in the high-tech sector, Prime Minister Pham Minh Chinh said Tuesday.
Industries - Tue, May 14, 2024 | 5:46 pm GMT+7
Navigating Global Minimum Tax rules
Dang Ngoc Minh, deputy head of the General Department of Taxation, gives his insight into the status of Pillar 2 implementation of the Global Minimum Tax (GMT) in Vietnam, takeaways from Resolution No. 107/2023/QH15, and the Government's plan to build a follow-up decree.
Consulting - Tue, May 14, 2024 | 4:49 pm GMT+7
Bamboo Capital plans 50% charter capital increase to achieve ‘spectacular’ growth targets
Bamboo Capital Group JSC, listed on the Ho Chi Minh Stock Exchange as BCG, has finalized the list of existing shareholders as it plans to raise its charter capital by 50% to service debt and finance operations.
Companies - Tue, May 14, 2024 | 4:19 pm GMT+7
Vietnam central bank eases conditions, sells 48% gold offered at sixth auction
Easier conditions helped Vietnam’s central bank sell 8,100 taels of gold Tuesday, 48.2% of the volume offered in the sixth auction since it resumed auctions last month after 11 years.
Finance - Tue, May 14, 2024 | 3:37 pm GMT+7
$420 mln residential project in southern Vietnam awaits investors
Long An’s Planning and Investment Department is seeking investors for the VND10.66 trillion ($418.8 million) Thanh Phu residential and commercial complex project in the southern province.
Real Estate - Tue, May 14, 2024 | 3:31 pm GMT+7
Vietnam to buy electricity from 250-MW wind power project in Laos next year
Vietnam is set to purchase electricity from the 250-MW Truong Son wind power project in Laos, starting Q4/2025.
Energy - Tue, May 14, 2024 | 2:07 pm GMT+7
Vietnam data market charms foreign players: property firms
A host of foreign companies are looking to invest in data centers in Vietnam given its substantial growth potential while the market is still dominated by local telecommunication firms, says property service provider Jones Lang LaSalle (JLL).
Infrastructure - Tue, May 14, 2024 | 11:26 am GMT+7
LG’s chemicals arm records modest 2023 profits in Vietnam
LG Chem, Ltd, the chemicals arm of South Korean chaebol LG, reported modest profits from its subsidiaries in Vietnam in 2023, according to the firm’s consolidated financial statements.
Companies - Tue, May 14, 2024 | 11:11 am GMT+7
Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert
Vietnam’s policymakers need to consider changes to foreign direct investment incentives to keep the country competitive when it implements Global Minimum Tax rules, says Prof. Nguyen Mai, chairman of the Vietnam’s Association of Foreign Invested Enterprises (VAFIE).
Opinion - Tue, May 14, 2024 | 9:37 am GMT+7
