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Textile stocks slump despite profit rises - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports

Update:
May, 11/2021 - 08:05
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Garment products are made at TNG Investment and Trading JSC in Thái Nguyên Province. Shares of TNG have slumped 13 per cent compared to the beginning of April. VNA/VNS Photo Hoàng Nguyên
HÀ NỘI Despite a positive recovery in the first quarter of this year, textile company stocks continued to decrease.
Even though positive earnings and good export results were recorded, major stocks in the textile and garment industry lost ground.
Shares of Thành Công Textile Garment Investment Trading Joint Stock Company (TCM) dropped 12 per cent compared to the beginning of April, trading at around VNĐ117,000 (US$5.11) per unit. ....

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Textile companies hope for better days ahead - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports

Update:
February, 24/2021 - 08:13
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Workers at Việt Tiến Garment Corporation (VGG). From 2010 to 2020, the total revenue of Vietnamese textile and garment enterprises has increased four times from VNĐ12.35 trillion to VNĐ54.14 trillion. VNA/VNS Photo
HÀ NỘI Textile and garment companies have made big strides in the industry for the past decade, but 2020 was a challenge.
Việt Tiến Garment Corporation (VGG) recorded a sharp decline in net profit by 65 per cent in 2020 to VNĐ143 billion (US$6.2 million), the lowest profit rate in the last 10 years.
VGG attributed the decline to the negative impact of the COVID-19 pandemic around the world, especially in Japan, the US and the EU, the main export market of the corporation. Importers in these countries reduced their orders, leading to a decrease in VGG’s sales. ....

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