In the Q1/ 2015, thanks to the involvement of F.I.T, major shareholder, the financial situation of DCL has shown positive results. DCL’s 1st quarter business performance highlight this year was the strong decrease in administration financial expenses and sales expenses, up to 50% vs same period the year before; resulting in the 1st Quater before tax profit of 102% vs Q1/2014.
On 7 May, 2015, Cuu Long Pharmaceutical Joint Stock Company (Share sticker: DCL – HSX) – a company in which F.I.T is a major shareholder – revealed the Q1/2015 Financial.
It is stated that the company’s administrative, financial and sales expenses has dramatically decreased, which was only half of the same period of the year before. The sales expense has fallen from VND 24.8 bio to VND 12.6 bio. Thus, the company’s profit before tax reached VND 17.8 bio, that is 102% vs Q1/2014.
In the 1st Quarter, with the participation of new shareholder – F.I.T, DCL has restructured business operations, focusing on producing and selling higher profit margin products than the previous year. In Q1, the Company has also benefited from the decrease of input materials’ cost. The strict monitoring of all expenses as admin and financial ones…have helped to lower the total cost, resulting in the company’s higher benefit.
In the near future, the major shareholder F.I.T will continue to complete the necessary procedures to increase their shares in DCL up to to 65%, officially turning DCL to be a subsidiary of F.I.T. DCL will get the support on finance, governance capacity, market development, and collecting the debts thoroughly and develop its strength in pharmaceutical industry which are market experience, factory scale and customer network.
The company has set its target for Q2 to double the sales volume to achieve the 2015 year’s goal with VND 840 bio in net revenue and VND 50 bio after tax profit.
