Vietnam's plastics heavyweight Tien Phong sees record-high quarterly profit

Tien Phong Plastic JSC, a top plastics manufacturer in Vietnam, posted an after-tax profit of VND320.5 billion ($12.26 million) in Q2/2025, up 34.5% year-on-year and an all-time quarterly high.

On average, the company earned more than VND3.5 billion ($133.920) per day during the quarter, according to its freshly released Q2/2025 financial statements.

The company, listed on the Hanoi Stock Exchange as NTP, recorded net revenue of VND1.99 trillion ($76.14 million), up 18.5% compared to Q2/2024.

Gross profit was VND637.8 billion ($24.4 million), up 15.3%. Gross profit margin slightly declined from 32.9% to 32%. Pre-tax profit hit VND381.6 billion.

Tien Phong attributed this growth to increased sales, a drop in input material prices, and improved financial income through better management of cash and cash equivalents, contributing to the rise in net profit compared to the same period last year.

In the first six months of 2025, the company’s financial income surged about 115% year-on-year, mainly due to a 143% increase year-on-year in interest income from deposits and loans.

Its net revenue reached VND3.26 trillion ($124.74 million), up 24% year-on-year and pre-tax profit hit VND635 billion, completing 74.2% of the year's target. Its after-tax profit was over VND532 billion ($24.3 million), up 53% year-on-year.

As of June 30, the firm's total assets stood at VND6.7 trillion ($256.36 million), up 4.3% from the beginning of the year. Total liabilities increased to VND2.92 trillion, up 6.3% from the start of the year.

On the stock market, NTP shares were priced at VND70,000 ($2.68) apiece on Thursday.