Tien Phong Plastic (NTP) posts record quarterly profit as earnings jump over 50%

Tien Phong Plastic (NTP) posts record quarterly profit as earnings jump over 50%

According to the company, business operations were adjusted flexibly in response to market developments, helping expand market share, attract new customers.

A booth of Tien Phong Plastic at a exhibition in Hà Nội. — Photo nhuatienphong.vn

Plastic pipe manufacturer Tien Phong Plastic JSC reported its highest-ever quarterly profit in the second quarter of 2026, driven by stronger sales growth and improved profitability despite a challenging operating environment for the plastics industry.

According to the company's consolidated financial statements, profit before tax reached VNĐ576.9 billion (US$22 million) in the second quarter, up 51.2 per cent from VNĐ381.6 billion in the same period last year. 

Its net revenue rose nearly 9 per cent year-on-year to approximately VNĐ2.2 trillion. In comparison profit after tax climbed almost 49 per cent to nearly VNĐ478 billion, marking the highest quarterly earnings in the company's history.

For the first six months of the year, Tien Phong Plastic posted accumulated profit before tax of about VNĐ880 billion, equivalent to 73 per cent of its full-year profit target approved by shareholders.

The company's inventories rose to VNĐ1.79 trillion by the end of the second quarter from VNĐ1.44 trillion at the start of the year. It said the increase reflected its strategy of proactively building raw material inventories.

At the same time, prices remained favourable, ensuring sufficient supply for expanding production and meeting demand from large-scale construction projects.

The earnings growth came despite rising input costs across the plastics industry. 

According to the company, business operations were adjusted flexibly in response to market developments, helping expand market share, attract new customers, particularly in the project segment, and improve profit margins during the quarter. 

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