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One in all Vinachem’s chemical vegetation in Bac Giang Province. Photograph by VnExpress/Anh Tu
Vietnam Nationwide Chemical Group reported earnings of VND4.1 trillion ($175.6 million) in H1, up 31 occasions from 2021, due to rising fertilizer costs and post-Covid restoration of the agriculture sector.
Its six-month earnings had been twice the annual enterprise goal this yr.
Revenues additionally rose by 26 p.c to VND32.83 trillion, equal to two-thirds of its marketing strategy.
Fertilizer and pesticide remained Vinachem’s key enterprise, accounting for 60 p.c of gross sales.
A lot of its subsidiaries additionally recorded triple-digit progress to their earnings, together with Vietnam Apatite Firm (up 410 p.c), Southern Fertilizer JSC (up 297 p.c), DAP – Vinachem JSC (up 233 p.c) and Viet Tri Chemical JSC (207 p.c).
2022 might be Vinachem’s most worthwhile yr after the pandemic, Group Director Phung Quang Hiep stated.
Brokerage VNDirect Securities reported that, within the first six months, chemical shares noticed liquidity surge by 134 p.c year-on-year. The sector additionally attracted the very best capital influx due to rising fertilizer and phosphorus costs, pushed by the Russia-Ukraine battle.
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