Phu Thinh Import - Export And Production Joint Stock Company (Vietnam)

The subject is a privately held company founded in late 2006 in Ha Noi City, Vietnam. It is engaged in importing and trading ammonium sulfate and other chemicals for domestic fertilizer production. Sometimes, it exports domestic fertilizers to nearby countries such as Laos and Cambodia as a revelation by Ms. Nhung - an accountant of the company. In 2021, the fertilizer price and related materials clearly increased over the year 2020, especially in the second half, which was even about 3 times higher sometimes that was the major reason for the subject's impressive revenue growth, said Ms. Nhung. Meanwhile, the consumption volume increased very slightly. As stated, net sales reached VND 1,176 billion in 2021, a 312.03% improvement against 2020. Despite that, the COVID pandemic outbreak pushed most expenses up, especially the international freight rate and purchasing price, the operating expenses rose considerably. As a result, it suffered a loss in the same period. According to Ms. Nhung, the turnover of FYE 31 Dec 2022 was the same as 2021, attaining about VND 1,180 billion, positively, the net income was better.