The market fluctuates, the duo of leading plastic companies “holding hands” to reach historic highs

In the face of market volatility, the shares of two leading plastic companies, NTP (Tien Phong Plastics) and BMP (Binh Minh Plastics), have reached historic highs. Specifically, NTP reached 70,800 VND/share and BMP 144,400 VND/share, with increases of more than 13% and 10% compared to the beginning of the year, respectively. Tien Phong Plastics has a market capitalization of nearly 10.1 trillion VND, lower than BMP’s 11.82 trillion VND, but the gap is narrowing.
NTP and BMP have generated thousands of billions in annual revenue and have competed fiercely for over a decade. After NTP’s dominance, BMP took the lead in 2020, but NTP made a strong comeback starting in 2021. In 2024, while BMP’s revenue decreased by 10%, NTP’s revenue rose to 5.656 trillion VND and recorded the highest profit in 65 years.
At the beginning of 2025, both companies reported positive revenue with NTP’s post-tax profit hitting 212 billion VND, up 94% year-on-year, while BMP achieved 287 billion VND, up 51%. Notably, the presence of the Thai shareholder SCG also plays a significant role in the development of both companies.