Saigon Plant Protection turns Q3 loss to profit with cost-cutting measures

Saigon Plant Protection Joint Stock Company (SPC) reported a substantial increase in profit after tax for Q3 2025, moving from a loss of VND 7.6 bn in Q3 2024 to a profit of VND 265 million. This turnaround is primarily attributed to a 94.2% increase in financial income, which rose by VND 3.311 bn compared to the same period in 2024. Despite a 28.8% decrease in gross profit from sales and services due to reduced revenue, the company’s strategic cost-cutting measures significantly improved its bottom line.

Financial expenses for Q3 2025 decreased by 7.9% year-over-year, mainly due to lower interest expenses and payment discounts. Selling expenses also saw a remarkable 57.6% reduction, reflecting the company’s efforts to streamline operations, review expenditures, and merge inefficient warehouses and branches. These operational adjustments contributed to a decrease in the selling expense ratio from 14.5% of net revenue in Q3 2024 to 7.3% in Q3 2025.

On a consolidated basis, profit after tax for Q3 2025 surged from a loss of VND 5.44 bn in Q3 2024 to a profit of VND 5.24 bn. This was largely driven by a more than 48% reduction in selling expenses and the ongoing restructuring of the operating apparatus. The company's overall strategy of optimizing costs and improving efficiency has clearly yielded positive financial results.