City Auto Corporation experienced a sharp decline in profits despite significant revenue growth

City Auto Corporation (HOSE: CTF) reported a 71% drop in profit, reaching only VND 2.2 billion, even as revenue increased by 34% to over VND 2 trillion due to the consolidation of a Volkswagen vehicle distribution company. According to the company's explanation, the primary reason for this profit decline stemmed from a sharp reduction in revenue from financial activities, which diminished crucial support for an already fragile profit margin. This marked nearly a four-year low in profitability for the Ford vehicle distributor.

City Auto Corporation (HOSE: CTF) reported a 71% drop in profit, reaching only VND 2.2 billion, even as revenue increased by 34% to over VND 2 trillion due to the consolidation of a Volkswagen vehicle distribution company. According to the company's explanation, the primary reason for this profit decline stemmed from a sharp reduction in revenue from financial activities, which diminished crucial support for an already fragile profit margin. This marked nearly a four-year low in profitability for the Ford vehicle distributor.

« Go Back