Sanitary ware firm TOTO Vietnam's profit doubles to $11 mln in Apr-Dec 2022
Japanese sanitary ware firm TOTO earned VND265 billion ($11.26 million) in pre-tax profit in Vietnam from April-December 2022, doubling year-on-year, according to the firm’s report for the first three quarters of fiscal year 2022.
In the period, net sales went up by 13% year-on-year to VND3.34 trillion ($141.98 million). TOTO attributed the strong growth in Vietnam to the recovery of domestic demand.
Overall, in the calendar year of 2022, TOTO made a pre-tax profit of VND460 billion ($19.55 million) on a net sales of VND4.81 trillion ($204.25 million).
TOTO factory in Hung Yen province, northern Vietnam. Photo courtesy of the firm.
Last December, TOTO Vietnam completed the construction of its $100-million faucet factory in the northern province of Vinh Phuc. The 10-hectare plant in Thang Long Industrial Park can produce 600,000 hoses, valves, and accessories for restrooms and kitchens per year, and assemble 1.3 million products annually.
TOTO Vietnam has four other factories in Vietnam. The first and second were opened in Hanoi in 2004 and 2006, while the third and fourth made their debut in the northern province of Hung Yen in 2018 and July 2022.
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