CNG Viet Nam Joint Stock Company (CNG) and Phuong Nam Education Investment & Development JSC (SED) announced business results in 2013 as follows:
CNG posted net revenue of VND949.8 billion, up 18.5 percent compared to the previous year, and net profit of VND123.9 billion, up 5.1 percent over last year and exceeding 2 percent of the plan. Its total assets grew 3.4 percent to reach VND644.9 billion while long-term debt declined 50 percent to VND37.2 billion.
SED got net revenue of VND340.1 billion, up 19.1 percent against the previous year and exceeding 13.4 percent of the plan, and post-tax profit of VND31 billion, up 20.69 percent. By the end of December 31, 2013, the company’s cash and equivalents hit VND14.1 billion, 2.3 times higher than that in the beginning of 2013; inventory dropped 28.5 percent to VND82.4 billion; and short-term debt fell 18.5 percent to VND87.1 billion.