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Sunday, July 21, 2024

Bright spots in challenging market

By Hung Le

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Amidst the overall gloomy economic conditions faced by manufacturers in both local and international markets, a few businesses are showing positive signs of growth, managing to navigate through challenges to expand their operations. Rare bright spots While the prevailing economic picture is mostly discouraging, there are a few rare bright spots, particularly in the real estate, construction materials, and logistics sectors. Despite the difficulties experienced by the real estate and construction markets, the industrial plastic sector, including small-sized enterprises, has also faced similar challenges, leading many of them to suspend or sell their businesses due to intense competition. However, Binh Minh Plastics (BMP) stands out as an exception with positive business results. During the first quarter of the year, BMP achieved net revenue of VND1,440 billion, a 6.7% increase compared to the same period last year. Its consolidated profit reached over VND554 billion, representing a significant rise of 73.8%. Similarly, while many real estate companies are facing difficulties that have led to business closures, some property firms have recorded net profit growth in the last quarter. Sunshine Homes (SSH), for example, recorded a growth rate of 409% compared to the same period last year. The company achieved over VND508 billion […]
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