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FLC estimates VNĐ500 billion Q2 pre-tax profit

Update: June, 09/2016 - 09:30
The FLC Group on Tuesday estimated the group would gain a pre-tax profit of VND500 billion (US$22.32 million) in the second quarter this year.— Photo vtc.vn

HÀ NỘI — FLC Group on Tuesday estimated the group would gain a pre-tax profit of VNĐ500 billion (US$22.32 million) in the second quarter this year.

At the annual shareholders meeting on Tuesday, the real estate developer also announced targets for consolidated revenue of VNĐ7 trillion and pre-tax profit of VNĐ1.2 trillion in 2016.

The group expected its revenue this year would come not only from residential real estate like before, but also from tourism resorts. This year, the group’s three resorts in Sam Son, Vinh Phuc and Quy Nhon have been put into operation.

To boost business plans, besides focusing on corporate governance, FLC also plans to issue more shares to increase charter capital to nearly VNĐ7.095 trillion this year.

Besides this, the group will negotiate with other firms to acquire uncompleted residential real estate projects for further development.

In 2016, FLC also expects to develop some potential business segments, such as agriculture, pharmacy and healthcare services.  

FLC reported impressive consolidated revenue of VNĐ5.326 trillion last year, up 258 per cent from the previous year. Its pre-tax profit also surged sharply by 255 per cent to VNĐ1.158 trillion. The group paid dividends through shares worth VNĐ748 billion, while contributing VNĐ272 billion to the State budget. — VNS

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