Home Companies Earnings and Outlook

Vingroup's profits up five fold

Sep 3rd at 14:20
03-09-2013 14:20:30+07:00

Vingroup's profits up five fold

Property giant Vingroup (VIC) said it earned a revenue of VND3.13 trillion (US$147.6 million), a drop of 17 per cent over last year.

 

However its net profit during this period reached more than VND4 trillion ($188.6 million), almost five times more.

The jump in profits was due to the selling off of several subsidiaries to other companies.

The group's total assets as of June 30 reached over VND58.5 trillion ($2.7 billion), a rise of VND2.7 trillion ($127.3 million) compared to the end of last year.

This was raised mainly from the Royal City, Times City and Vincom Village projects. 

vietnamnews

MOST READ

NEWS SAME CATEGORY

Development firm posts losses
EARNINGS AND OUTLOOK Sep 3rd at 13:17

Development firm posts losses

The Kinh Bac City Development Company (KBC) has recently announced its audited financial statement for the first six months of this year, revealing losses of...

Tycoon criticized as “unprofessional” for HAGL restructuring plan
EARNINGS AND OUTLOOK Aug 31st at 18:16

Tycoon criticized as “unprofessional” for HAGL restructuring plan

The decision by Hoang Anh Gia Lai Group to undergo a “major operation” by selling real estate projects has been described as an unwise move.

Vinamilk exports top $136m
EARNINGS AND OUTLOOK Aug 29th at 13:29

Vinamilk exports top $136m

The Viet Nam Dairy Products Joint Stock Company (Vinamilk) has exported products worth nearly US$136 million in the year-to-date.

HAGL to undergo dramatic restructuring
EARNINGS AND OUTLOOK Aug 20th at 16:04

HAGL to undergo dramatic restructuring

Multi-sector operator Hoang Anh Gia Lai (HAGL) is set to undergo what its chairman is calling “a drastic surgery” in the hope of cutting off debts and increasing...

FLC buy-out hastens Hanoi’s Alaska Garden City
EARNINGS AND OUTLOOK Aug 19th at 14:05

FLC buy-out hastens Hanoi’s Alaska Garden City

FLC Group has purchased Alaska Garden City Urban project on the western outskirts of Hanoi. The project is expected to start construction by the end of 2013.

Mining, new products boost Masan Q2 profits
EARNINGS AND OUTLOOK Aug 17th at 15:54

Mining, new products boost Masan Q2 profits

Private equity firm Masan (MSN) has announced second quarter profits thanks to the launch of popular new products and its chemical Nui Phao Project.

Investment in affiliates boost REE profits
EARNINGS AND OUTLOOK Aug 3rd at 20:35

Investment in affiliates boost REE profits

Refrigeration Electric Engineering Co (REE) said it achieved a net profit of VND529.4 billion (US$24.9 million) in the second quarter thanks to investment in...

Vingroup boss, wife hold $1 bln worth of shares
EARNINGS AND OUTLOOK Aug 2nd at 14:33

Vingroup boss, wife hold $1 bln worth of shares

The chairman of Vingroup, one of the country’s largest realty developers, and his wife are collectively holding company shares that are worth an enormous VND21.02...

GAS says profit discrepancy was mistake
EARNINGS AND OUTLOOK Aug 1st at 13:26

GAS says profit discrepancy was mistake

The PetroVietnam Gas Corporation (GAS) has said the VND800 billion (US$37.7 million) discrepancy in its financial reports from the first six months of this year was...

Vinamilk wants to take over U.S. milk firm
EARNINGS AND OUTLOOK Aug 1st at 10:51

Vinamilk wants to take over U.S. milk firm

Besides the increase of capital investment in Miraka of New Zealand to above 19.3 percent, Vinamilk Board of Directors also approved the acquisition of the...

Read More

NEW STOCKS

MOST READ

Back To Top