In February 2020, Cuu Long Pharmaceutical recorded a revenue of more than VND 70 billion, exceeding 61% compared to February 2019, the profit after tax of the month also recorded a growth of 6 times as much as the same period last year (over 9 billion). Only after the first 2 months of the year, after-tax profit of Cuu Long Pharmaceutical (over 11.3 billion) was nearly equal to the net profit of the whole 2018 (12.5 billion). This is considered a quite favorable result, creating strong momentum for the whole year – 2020 of Cuu Long Pharmaceutical.
Generally, from the beginning of 2020, cumulative net revenue reached 104.8 billion, equivalent to accumulated revenue in the first 2 months of 2019. However, thanks to gross profit increased by 4 billion over the same period (30 billion after the first two months of 2020 and 26 billion after the first two months of 2019), thus the profit before tax and profit after tax had an impressive growth: 11.3 billion after the first two months of 2020 compared to 5 billion in the same period of 2019. This is due to Pharmacy Cuu Long has well managed its cost of capital, its management costs have not been rose, in addition its financial expenses have even been declined slightly.
In addition, these results are still very positive compared to the budget estimate of 2020 at a time gross profit margin of Cuu Long Pharmaceutical grew up to 28% compared to 26% of the estimate.
It should be further noted that: these figures were achieved in the context of the first two months of 2020, Cuu Long Pharmaceutical had to temporarily suspend production lines to renovate the factory to meet GMP-WHO standards. By the end of March 2020, the renovation of capsule factories (empty capsules) has been completed and returned to production, the fourth factory is expected to go into operation in the fourth quarter of 2020. Owning its available strengths, Cuu Long Pharmaceutical is currently the No.1 manufacturer and supplier of empty capsules in Vietnam market.
Apart from the decisive factors that proceed from the vision and business strategy of Cuu Long Pharmaceutical as well its parent company FIT Group, the objective developments of the market also chip in the company’s impressive results.
In the early months of 2020, Vietnam’s health sector as also the world are facing one of the biggest epidemics in history: Sars-covy-2 (aka Covid 19). The outbreak of the pandemic caused a surge in demand for pharmaceutical products (mainly antibiotics). Hospitals and even individual customers own a need to stockpile medicines to prevent epidemics.
For this unpredictable happening, Cuu Long Pharmaceutical has shown the capability of a reputable enterprise for 40 years through meeting timely and fully the market demands. Even in the worst pandemic situation, Cuu Long Pharmaceutical remain ensuring to provide adequate medical equipment, quality pharmaceuticals to hospitals and also individual customers who are in need of buying prescription and no prescription medicines.
February 2020 results open up a luminous potency for Cuu Long Pharmaceutical for the whole year. As laid out plans, added the determination of all employees and the board of management, thenceforth expect the new breakthrough numbers of Cuu Long Pharmaceutical in the next 10-month period.
Joining FIT Group since 2015, Cuu Long Pharmaceutical has been receiving professional investment in both capital and human resources. Along with the available strengths, DCL is showing steady progress in both scales and quality. By strengthening the company’s foundation, focusing on developing new product lines, upgrading modern machinery systems, Cuu Long Pharmaceutical aims to become a leading pharmaceutical enterprise in Vietnam in terms of pharmaceutical, empty capsules, and medical devices productions. Besides the mission to protect and care for Vietnamese people, Cuu Long Pharmaceutical also retain to share responsibility with the community through meaningful and practical activities, in line with the parent company FIT Group’s orientation.
