Textile and garment stocks are trading at P/E in 2023 and 2024 of 11x and 9x respectively. Most companies expect revenue in Q3/2023 to be on par with Q2/2023 but expect Q4 improvement in Q4/2023. Therefore, it is forecast that companies in the industry will record positive net profit growth in Q4/2023. At the same time, the worst quarter results have also been reflected in prices and investors can expect a recovery of the industry in 2024.
In July 2023, Vietnam’s textile and garment export turnover may reach USD 3.8 billion (down 9% svck), so a 17% svck decrease in the first half of 2023. July 2023 recorded the price Import export value by month is the highest since the beginning of the year. Export turnover of the industry in the first 7 months of 2023 reached 22.8 billion USD (down 15% Svck).
Due to the global economic slowdown, growing pressure and high inventory levels in the first half of 2022, various national textile and apparel manufacturers have recorded a drop in exports of more than 20% svck in the first half of the year. year 2023 . Specifically, China recorded a decrease of 7.3% svck. Bangladesh is the only country that recorded a 4% increase in svck in the first half of 2023.
According to a survey of major retailers, although Vietnam is rated higher than Bangladesh in terms of quality and production capacity, Bangladesh has advantages in cost, tax and government support accounts (from customs to the supported interest rate).
However, Vietnam continues to rank higher in product quality, labor productivity and delivery time, which are important factors for retailers as the economy recovers and demand increases. request increase.
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COTCO stands ready to assist you with any inquiries regarding cotton products. Please do not hesitate to reach out to us:
☎ +84 (28) 3589 9978 / 3622 2272
📧 trading@cotco-vn.com
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