HCMC – Century Synthetic Fiber Corporation (HOSE: STK) expects to earn VND310 billion in net profit this year, nearly 6.8 times higher than last year.
Its revenue is projected at VND3.27 trillion, a 170% surge from 2024. If achieved, this would mark the company’s highest revenue and profit.
STK’s profit outlook is backed by the Unitex plant, which has begun trial operations. Commercial production is expected to begin in the second quarter, pending fire safety certification.
The company has also developed new high-value yarn products, including recycled fiber and colored yarn, aimed at increasing revenue and meeting demand for sustainable materials.
In 2024, STK reported net profit of VND45.6 billion, down 48% from 2023, achieving less than 15% of its annual target. Its revenue fell 15% year-on-year to VND1.21 trillion, making up 45% of the full-year goal. The gross profit margin declined by 1.5 percentage points to 13.3%.
The company returned to profitability in the third quarter of 2024, supported by foreign exchange gains, after losses in the first half due to lower sales and higher idle capacity costs. Fourth-quarter net profit was VND18 billion, down 47% year-on-year and 78% from the previous quarter.
Closing the trading session today, February 12, STK shot up to its ceiling price of VND25,050, with a matching volume of 140,500 shares.
The VN-Index edged down 1.54 points, or 0.12%, at 1,266.91 on Wednesday, with 209 stocks rising and 226 others dipping.
Trading volume dropped 19.5% in volume and 20.5% in value over the previous session, with 506.2 million shares valued at VND11.3 trillion changing hands. Block deals contributed 44.6 million shares worth VND1.16 trillion to the overall value.
Shares in most leading sectors declined. In the banking sector, only EIB, LPB, and STB gained 1.32%, 0.95%, and 0.39%, respectively. Five bank stocks stayed flat, while the rest inched down. MBB and BID dropped the most, 1.3% and 1.11%, respectively.
Steel stocks recorded limited gains, with only SMC and TNI rising. Real estate shares mostly slid.
On the other hand, infrastructure-related stocks performed well. HHV rose 2.36% to VND13,000 on a volume of 16.84 million shares, making it the most actively traded stock. VCG followed with 15.58 million shares traded, closing up 3.36% at VND21,550.
The HNX-Index increased 0.45 point, or 0.2%, to 229.32 points, with 78 winners and 79 losers. Total trading volume on the northern market reached 46.4 million shares valued at VND698.1 billion.
