Construction firm Vinaconex sees revenue and profit down

October 30, 2018 - 12:00

The Việt Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) saw both revenue and post-tax profit down in the third quarter this year, by 8.7 per cent and 29 per cent respectively.

Vinaconex’s building in Hà Nội. — Photo baodauthau.vn

Viet Nam News

HÀ NỘI — The Việt Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) saw both revenue and post-tax profit down in the third quarter this year, by 8.7 per cent and 29 per cent, respectively.

The company earned VNĐ2.2 trillion (US$95 million) in revenue and VNĐ185.4 billion in post-tax profit in the reviewed period.

The drop in profit, partly due to the decline in revenue, was also caused by a slump in financial income, which decreased by 56 per cent to reach VNĐ54.45 billion. The joint ventures operation only brought in about VNĐ10.5 billion for Vinaconex, down VNĐ37 billion compared with the same period last year.

In the first nine months this year, Vinaconex recorded VNĐ368 billion in post-tax profit, down 40 per cent compared to the same period of 2017, in which, post-tax profit of parent company reached VNĐ274.3 billion. Earnings per share (EPS) for nine months reached VNĐ621.

At the end of Q3, total assets of Vinaconex reached VNĐ20.17 trillion, in which inventories accounted for VNĐ3.39 trillion, short-term receivables were nearly VNĐ4 trillion, down about VNĐ250 billion compared to the beginning of the year.

Vinaconex’s debt stood at more than VNĐ4 trillion, equivalent to 25 per cent of its capital structure. — VNS

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