Vingroup leaders announce the business result of the first quarter of 2016 at the annual shareholder's meeting in Ha Noi. — Photo vfpress.vn

Viet Nam NewsHÀ NỘI — Real estate developer Vingroup (VIC) announced an estimated profit of VNĐ1.1 trillion (US$49.2 million) for the first quarter of 2016 at its annual shareholder’s meeting in Hà Nội on April 22.

Vingroup’s consolidated turnover was VNĐ34 trillion for the whole of 2015, up 23 per cent compared with 2014, with after-tax profits of VNĐ1.419 trillion (US$63.3 million).

At the meeting, Vingroup said it would pay shareholders an 11 per cent dividend in shares for 2015.

The group said it planned to pay the dividend, or over 213 million shares, in the second quarter of 2016, adding there was no restriction on the transfer of those shares.

The shares, equivalent to some VNĐ2.1 trillion, for the dividend, would make the charter capital of the group to more than VNĐ21.5 trillion.

Vingroup has targeted achieving VNĐ45 trillion in net revenue this year, an increase of 32 per cent over 2015, and a profit-after-tax of VNĐ3 trillion, doubling its increase from 2015.

At present, the group has six ongoing projects – Vinhomes Gardenia in Cầu Diễn Ward in Hà Nội, with a total investment of VNĐ4.85 trillion and Vinhomes Riverside No. 2 in Long Biên District, with a total investment of VNĐ4.9 trillion.

In addition to a combination Metropolis project on Phạm Hùng Street in Từ Liêm District, Vinhomes Central Park project in Bình Thạnh District in HCM City, Vinhomes Hải Phòng in Hải Phòng City and Vinhomes Dragon Bay in Hạ Long City, with a total investment of some VNĐ4.8 trillion, VNĐ37.7 trillion, VNĐ4.9 trillion, and VNĐ12 trillion, respectively.

The group is also expected to open some 15 trading centres and launch 19 shophouse projects across the country this year.

On April 22, each VIC share rose 5.8 per cent to reach VNĐ54,500 (US$2.5) on the HCM Stock Exchange. — VNS