Vietnam cement sector reports strong profits
HANOI: Vietnam's cement sector is in the midst of a significant turnaround, as several companies report profits despite pressures from oversupply.
This resurgence is seen as a positive signal for the industry, especially with the anticipated boost from public investment in the latter half of the year.
After a challenging first quarter, when many companies recorded losses, the Vietnamese cement market has experienced a remarkable recovery, with several firms unexpectedly reporting substantial profits in the second quarter of 2025 (2Q25).
Vicem Ha Tien Cement posted record profits, breaking an 11-quarter streak of poor performance.
The company reported consolidated net revenue exceeding 1.93 trillion dong (US$73.6mil) and a net profit of over 112.3 billion dong, a sharp contrast to a loss of nearly 9.2 billion dong in the first quarter.
Despite a modest 1% increase in revenue year-on-year, the company's net profit surged by 145.5%, attributed to an 8.5% increase in cement consumption and reduced costs due to better production cost control. — Viet Nam News/ANN
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