Vicostone estimates Q2 profit soars 73% on-year

These positive outcomes were the results of the Board of Management's sustainable development strategy, business sensitivity and determined leadership, as well as corporate risk management capabilities and proactive response to overcome unpredictable changes in the global economy, plus the assistance of the parent firm – Phenikaa Group.

With the strategic direction of “Prompt transformation, Trend initiation” set for 2021, Vicostone had responsive actions to overcome diversities and achieved impressive growth in the second quarter. In April-June period, the Company earned VND1.79 trillion in revenue and VND528 billion in profit before tax, which was up 59.2% and 73.2% on-year, respectively. The positive performance allowed Vicostone to make the first dividend payment for 2021 in cash at the rate of 20%, worth VND320 billion, to fulfill its commitments to the shareholders.

The first six months of 2021 were also the time in which the policies on the localization of input material production and enhancement of penetration into the global material supply chain, with technical and manpower support from Phenikaa Group, were proved effective and appropriate with the Company’s strategic direction. Vicostone almost achieved a full self-supply of input materials as the Company managed to produce Cristobalite and Quartz, the two main materials, on its own. In addition, polyester resin, one of the main ingredients for quartz production and accounting for about 40% of the end-product, was solely provided by Phenikaa Chemical Plant with superior qualities compared to the import supplies. By achieving these results, Vicostone became less dependent on imported materials, limited the risks of currency exchange rates, optimized production costs, assured the quality of supplies and products, improved production efficiency and enhanced its market competitiveness.

In association with Phenikaa Group, Vicostone has exercised many social betterment activities, including those that have supported the Government and communities to fight the COVID-19 pandemic in efforts to help Vietnam and Vietnamese people overcome adversities and return to the “new normal”. Phenikaa Group, Vicostone and other members of the Group have donated a total of nearly VND50 billion worth of cash and technological products and solutions in the prevention of the virus spread such as the disinfection robot, the Covid map… These are Vicostone’s practical actions of humanity, dedication and determination to “realize all commitments”, assisting the development of a better life for everyone.