Sadico Can Tho reports sharp 85% profit decline in first half 2025

Can Tho Sadico Joint Stock Corporation reported a net profit after tax of VND 517,807,624 for the first half of 2025, an 85% decrease compared to VND 3,392,865,238 in the same period of 2024. The company attributed this decline primarily to a challenging economic environment impacting the packaging industry, leading to intense competition and a supply surplus exceeding demand.

Despite the profit decrease, total net revenues from sales and services rendered increased by 15% to VND 98,904,575,645 in the first six months of 2025 from VND 86,106,231,715 in 2024. However, the cost of goods sold rose by 17% to VND 90,653,094,978, resulting in a 1% decrease in gross profit. Financial income also saw a significant reduction of 59%, from VND 7,248,487,173 in 2024 to VND 2,984,964,559 in 2025.

The company's strategy to diversify products, enhance quality, and improve after-sales services contributed to an increase in the cost of goods sold during the period. Total assets stood at VND 302,026,492,942 as of June 30, 2025, a slight increase from VND 300,866,910,078 at the beginning of the year.