From the beginning of 2020 up to now, the Covid-19 epidemic has pushed economies into unstable and unpredictable circumstances. To overcome this difficulty, each enterprise had to reassess its own situation, find a plan to remove difficulties, adapt to market developments as well as develop new trends.
In the adjustment process to adapt to the market situation in Vietnam, Thien Nam Group has carefully considered and proposed business solutions, strictly controlled investment efficiency as well as costs, reviewed operations to effectively organize business, manage and care for customers, adjust key groups of steel products, launch new products, support customers affected by the epidemic … Besides, the real estate projects implemented on schedule, well prepared legal procedures for the project to go into the open sale stage in 2021. At the same time, continuing to explore the project segment with complete legal and short-term medium-sized projects.
In the first 6 months of the year business results, all Thien Nam Group employees made an effort to achieve revenue of nearly VND 2,470 billion, reaching 47% of the 2020 plan and equal to 113.5% compared to the same period of 2019. Profit before tax reached 21.7 billion VND, equaling 72.1% over the same period in 2019. To achieve this achievement, the Board of Directors has proposed effective business adjustment plans, promptly issued many supportive policies. for the operation in difficult times, and with the great efforts of all employees, Thien Nam Group is considered quite successful in maintaining the growth rate and maintaining the profitability compared to the general average market slumped quite deeply during the epidemic season.
The fear of the market is facing many difficulties due to Covid’s unknowns in the last months of 2020, Thien Nam Group aims to continue moving forward, dynamically adapting to the market, minimizing negative impacts of epidemic diseases for the main business lines, reduce the activities of directly affected industries, make full use of financial support packages, have effective cash flow management methods as well as acumen in operating business policies, at the same time, ensuring the business speed, not only overcoming difficulties and challenges but also reaching the target with the best revenue and profit commitment.
According to the report of the General Statistics Office of Vietnam, the gross domestic product (GDP) in the first 6 months of 2020 is estimated to increase 1.81 % over the same period last year. The Asian Development Bank (ADB) has also announced in the Asian Development Outlook Update (ADO) 2020 released on September 15, 2020, that Vietnam will see a growth rate of 1.81 %, is considered a good assessment index compared with the negative growth index information of many major economies in the world.
Thien Nam Group
