Saigon Tobacco Company reports record-breaking profit

Activities News 31/12/2022

In the sector of tobacco businesses, last year was characterized by so many challenges that the industry encountered. Nevertheless, Saigon Tobacco Company has synchronously implemented many appropriate solutions from time to time throughout 2022, by boldly dealing adversity with a spirit of determination, constantly innovating and improving product quality, packaging design, company management, and reasonable market investment policy to ensure the competitiveness of the Company as well as within the group.

Mr. Nham Minh Thuan – Chairman of Board

Many targets exceeding the set forth plan

With the implemented solutions, the production and business results in 2022 of Saigon Tobacco Company and its affiliated subsidiaries had increased by over 3% of the target and approximately over 2% year on year.

In domestic sales, a market development investment program was set up and executed in line with solutions for output growth. At the same time, some basic technical operations like distribution networks, inventory, market surveys, and the team of sales supervisors… were sufficiently cared for and strengthened. Consumption volume in 2022 was estimated at 1,250.63 million bags. The State budget contribution was estimated at VND 4,029.02 billion, over 4.17% year on year. Revenue was estimated at VND 5,898.19 billion, up 3.54% year on year. In particular, profit before tax of 2022 was estimated at VND 500.2 billion, up 21.35% year on year, while profit allocation to the Corporation was 112.24% compared to 2021. This was the highest figure ever.

In the export segment, the Company has stabilized the selling price of most products for the purpose of retaining traditional customers and volume customers, given the surge in input cost. In 2022, 16 new export products were introduced to the market, particularly, with favorable policies for distributors. Not to mention, the application of science and technology, research and development of new products had always been valued by the Company. The average increase in export turnover exceeded 12% over the plan and exceeded 40% year on year./.

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