Analyst Pin-board: STK – 9M 2018 Business Results
Century Synthetic Fiber Corp (STK) has just announced its financial results from the first nine month of 2018. Revenues reached VND 1,780.9 bn (+24.4% YoY) and NPAT was VND 131.4 bn (+96.5% YoY). We consider that the increase of its gross profit margin is a main factor to the impressive growth of NPAT as raw material price increased lower than its selling price. The company saw an increase of high-quality orders. In details, its selling price increased by 28% YoY because of the increase in the proportion to revenue of recycled yarn orders (highest GPM, ~24%) from 10.9% in 2017 to 13.0% in the first nine months of 2018. On the other hand, it should be noted that in 2017 the company had liquidated its aged inventories so the average selling price was quite low.
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