HBC reports surge in profits in Q2
HBC reports surge in profits in Q2
Hoa Binh Construction and Real Estate Corporation reported 89 per cent net sales' increase year-on-year in Q2, reaching VND2.45 trillion (US$109.7 million), and a four-fold gross profit increase, touching VND263 billion.
Thus, in the first six months, HBC earned VND4 trillion in net revenue, a 74 per cent year-on-year increase, and VND140 billion in after-tax profit, a 213 per cent year-on-year increase. Profit to shareholders of the parent company was VND138 billion.
Established in 1987 in HCM City, BHC is involved in constructing civil and industrial works, bridges and roads, transportation works and water supply and drainage systems, as also in construction in the local market.Its largest shareholder, with a 19 per cent stake, is Lucerne Enterprise Ltd, a United Kingdom-based private firm that operates as a real estate developer. HBC Chairman Le Viet Hai, with more than a 15 per cent stake, and PYN Elite Fund (Nom-Ucits), with more than a 14 per cent stake, are the other two major shareholders.
On August 2, HBC shares ended at VN23,900 each on the HCM Stock Exchange.
