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Amid the difficult real estate market, many loss-making businesses still have some bright spots, with many businesses reporting profits, even big profits, in the third quarter financial reporting season of this year.
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According to survey results on the impact of mechanisms and policies of the Vietnam Association of Real Estate Brokers (VARS), businesses in the real estate sector are starting to show positive signs. Many businesses have succeeded in restructuring debt, restructuring business operations and starting to implement new projects that have been cleared of legal and capital sources.
Vingroup Corporation (stock code VIC) recorded revenue in the third quarter of 2023 increasing by 66.8% to VND 47,948 billion; but pre-tax profit decreased by 14.8% to VND 4,475 billion.
Accumulated in the first 9 months of 2023, total consolidated net revenue reached 134,207 billion VND, an increase of 122% over the same period, mainly thanks to the speed of handing over low-rise real estate units at Vinhomes Ocean Park 2 and 3 projects . as well as the strong growth of electric vehicle sales over the same period.
Consolidated pre-tax profit for 9 months reached 12,375 billion VND, up 42% over the same period. Consolidated profit after tax for 9 months reached 1,556 billion VND, flat compared to the same period last year and fulfilled 78% of the whole year plan, according to Tinnhanhchungkhoan.vn.
Nam Long Investment Joint Stock Company (code: NLG) has just released its consolidated financial report for the third quarter of 2023, recording strong growth in business indicators over the same period.
Of which, profit after tax was nearly 71 billion VND , an increase of more than 39%. Of which, the after-tax profit of the parent company's shareholders reached more than 66.3 billion VND , 8.3 times higher than the same period.
Accumulated for 9 months, Nam Long reached 1,546 billion VND in net revenue, down 43%. But the after-tax profit of the parent company's shareholders still reached nearly 194 billion VND , up 63% over the same period last year.
Similarly, Phat Dat Real Estate Development Joint Stock Company had revenue of nearly 355 billion VND in the third quarter , 32 times higher than the same period last year thanks mainly to real estate transfer sales.
However, Phat Dat reported profit after tax of nearly 102 billion VND , down 86% over the same period. But if we exclude the sudden profit thanks to the transfer of subsidiaries in the same period last year, this year's profit is positive because it is based on core business activities rather than financial revenue.
Accumulated for 9 months, Phat Dat reported a profit after tax of nearly 400 billion VND ... In 2023, the business sets a target of total revenue of 2,800 billion VND and pre-tax profit of 850 billion VND . Thus, after 9 months, the business has completed 63% of its profit plan.
Another enterprise, Da Nang Housing Development Investment Joint Stock Company, has also just announced its third quarter financial report with revenue reaching 56.18 billion VND , an increase of 49.61 times over the same period and recorded profit after tax. Received at 27.58 billion VND , while the same period last year had a loss of 28.77 billion VND .
In the third quarter of 2023, BGI Group also reported a consolidated after-tax profit of 22.2 billion VND , a sharp increase compared to the result of 1 billion VND in the same period in 2022.
BGI's main business results in the quarter also improved when net revenue increased 2.4% over the same period to VND 81.9 billion. Cost of goods sold decreased, gross profit margin increased, BGI's gross profit recorded an increase of 28.2% over the same period last year.
Accumulated in the first 9 months of this year, BGI achieved pre-tax profit of 30 billion VND, an increase of 290% over the same period, profit after tax reached 29 billion VND, also an increase of 282%. Compared to this year's pre-tax profit plan of 86.8 billion VND , the company has achieved nearly 35% of the set target.
Cuu Long Petroleum Urban Development and Investment Joint Stock Company (code: CCL) recorded net revenue from sales and service provision reaching 99.9 billion VND , an increase of 13.4% over the same period. Cost of goods sold increased by 32.9%, to 57.3 billion VND . Leading to CCL's gross profit only reaching 42.6 billion VND , down 5.27% over the same period, according to VTC News.
However, in the third quarter of 2023, CCL has reduced operating costs quite well such as: Financial costs decreased by 9.98%, to 7.1 billion VND ; Selling expenses decreased by 50.73%, to 4.4 billion VND and Corporate management expenses decreased by 58.17%, to 1.8 billion VND .
In the third quarter of 2023 business results, CCL reported a profit of 23.49 billion VND, an increase of 10.09% over the same period in 2022.
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Source: cungcau.vn