Analyst Pin-board DPR – Land compensation money may help increase future income
1Q2021 results were positive thanks to the rubber segment
Net revenue reached VND 201.5 billion, up by 98% yoy.
- Parent company's net revenue reached VND 110.9 billion, up by 64% yoy due to the rubber segment revenue increasing by 58% yoy, to VND 77.7 billion. Sale volume was 1,672 tons (+27% yoy) and the average selling price was VND 46.5 million/ton (+25% yoy). The positive result of the rubber segment came from the fact that China has increased its import of rubber to produce tires and the demand for rubber gloves has not shown any signs of decline. The selling price was driven by (1) high demand and (2) a decrease in the supply of China (due to droughts and floods in 2020) and Thailand (fungal disease led to a decrease in productivity). In addition, the revenue from the wood branch reached VND 17.5 billion, while the wood branch had no contribution in the same period of last year.
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