CTCP Thep Tam La Thong Nhat (ticker: TNS) has released its Q1/2025 financial report showing revenue of over 450 billion VND, a decrease of 44% compared to the same period last year. Despite this decline, the significant reduction in cost of goods sold led to a gross profit of nearly 17 billion VND, up 12%. After cutting various expenses, TNS reported a net profit of nearly 9 billion VND, an impressive 56% increase from Q1/2024, although it still faced a cumulative loss of over 113 billion VND. As of March 31, 2025, the company’s total assets stood at over 446 billion VND, with liabilities of 359 billion VND and over 44 billion VND in loans. The company explained that continuous fluctuations in the steel market had affected revenues, but their efforts to secure new customers and reduce costs improved their gross profit. Also, interest and administrative costs saw significant reductions, contributing to the net profit increase.
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