Thursday, August 17 2017

VietNamNews

Listed firms turn high profits in HCM City

Update: March, 14/2015 - 08:30
Mobile World Investment Corporation (MWG) has set high financial targets. It expects to lift its consolidated revenue this year to VND23.59 trillion (US$1.1 billion) and make a total net profit of VND886 billion ($41.4 million), an increase of 50 per cent in revenue and 31 per cent in profit compared with the targets of 2014. —  File Photo

HANOI (VNS)— The number of companies making high-profit growth has risen this year on the HCM City Stock Exchange, proving their faith in economic development prospects this year.

Compared to the modest growth targets of just 5-10 per cent last year, many listed companies have declared growth targets of 30-150 per cent.

Mobile World Investment Corporation (MWG) has set high financial targets. It expects to lift its consolidated revenue this year to VND23.59 trillion (US$1.1 billion) and make a total net profit of VND886 billion ($41.4 million), an increase of 50 per cent in revenue and 31 per cent in profit compared with the targets of 2014.

At the annual shareholders' meeting last week, MWG's chairman, Nguyen Duc Tai, said the company was gearing up to boost its size and that this would provide employees with better benefits.

MWG is Viet Nam's biggest mobile-phone retailer with 361 stores across the nation. Last year, it reported a total sale of VND15.756 trillion ($739 million) and after-tax profits of VND673.7 billion ($31.5 million).

Techno-Agricultural Supplying Company (TSC) also expressed high hopes for the year by setting its revenue target to rise 113 per cent and net profit to grow by 67 per cent compared with 2014.

Its total sales this year are expected to reach VND1.01 trillion ($47.2 million) while net profit will likely go up to VND117 billion ($5.5 million).

According to the company's general director, Phan Minh Sang, the targets are challenging but attainable. TSC plans to boost investments in food and agricultural chemical businesses with a focus on expanding its domestic distribution network while strengthening international co-operation and seeking M&A opportunities.

Apart from electronics and agricultural sectors, property companies also plan high growth in revenues and profits this year because of belief in the sector's recovery.

Tu Liem Urban Development Company (NTL) completed only 50 per cent of its 2014's plan, but it still striving for growth of 250 per cent this year.

NTL's board of directors has approved a plan to hike revenue to VND350 billion ($16.4 million) and pre-tax profit to VND120 billion ($5.6 million) by year-end. It also projects a dividend rate of 10 per cent.

Both FLC Group (FLC) and Phat Dat Corporation Real Estate Development Co (PDR) also slate impressive growth of 200 to 600 per cent.

FLC plans for the 2015 profit of VND1 trillion ($46.7 million), two-and-a-half times that of 2014, while PDR expects to raise its pre-tax profit to VND300 billion ($14 million), six times higher than last year. — VNS


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