Kangaroo International Joint Venture Joint Stock Company has reported a significant improvement in its after-tax profit, rising from a negative figure of nearly 65 billion VND in 2022 to nearly 5.2 billion VND in 2023. This represents an impressive increase compared to the previous year, and is only 17% of the profit seen in 2021.
Despite the challenging economic conditions, Kangaroo’s other financial indicators have also shown positive signs of recovery. Equity has increased by 5%, reaching nearly 749 billion VND, while total liabilities have decreased by 7% to 1,700 billion VND. The company has also taken proactive measures to reduce its debt burden by buying back all outstanding bond debt before maturity, spending nearly 8.4 billion VND on interest payments to bondholders.
Kangaroo International Joint Venture Joint Stock Company was established in 2021 through a joint venture between Viet Uc Electric Refrigeration Group Joint Stock Company and Noritz Group (Japan). The company aims to bring high-quality Japanese products produced by Vietnamese workers to the global market. Meanwhile, Kangaroo Group, which has been in business since 2003, primarily specializes in water purifiers. The company’s successful advertising efforts have significantly increased its visibility and market share over the years.
Overall, Kangaroo’s financial performance shows that despite the challenges faced by many businesses during this period of economic uncertainty, with persistence and dedication, companies can still achieve significant growth and improve their financial standing.
