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Home / Economy / Industry
Vietnam banknote-printing plant reports 6-month profit up 46%
Hai Yen 09:46, 2018/08/28
The six-month figure is higher than the target set for the whole 2018 at VND54.24 billion (US$2.34 million) and slightly lower than that of 2017 at VND67.75 billion (US$2.92 million).
Vietnam's state-run National Banknote-Printing Plant reported a pre-tax profit in the first six months of 2018 at VND66.7 billion (US$2.88 million), up 46% year-on-year, the company's financial statement showed. 
 
Illustrative photo.
Illustrative photo.
The six-month figure is higher than the target for the whole year of 2018 at VND54.24 billion (US$2.34 million) and slightly lower than that of 2017 at VND67.75 billion (US$2.92 million). 

During the January - June period, the plant's revenue stood at VND997.5 billion (US$43.07 million), up 28% year-on-year. However, as cost of goods sold remained high at VND910.7 billion (US$39.32 million), the company's gross profit stood at VND86.8 billion (US$3.74 million). 

Income from financial activities in the first half of 2018 climbed 32% year-on-year to VND17.2 billion (US$742,549), while financial expense saw a sharp decline from VND15.3 billion (US$660,539) to VND8.7 billion (375,600) and administrative expense up 13% to VND29.17 billion (US$1.26 million). 

As of June, the plant's total assets reached VND2.34 trillion (US$101.02 million), up 3% compared to the beginning of the year. Inventory increased from VND531 billion (US$22.92 million) in early 2018 to VND997 billion (US$43.03 million) by the end of June. 

Additionally, the money maker's equity amounted to nearly VND1.96 trillion (US$84.6 million). 

Under the administration of the State Bank of Vietnam, the National Banknote-Printing Plant is tasked with printing and casting paper money and coins, producing gold bullion, gold souvenir items and valuable papers. 
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