Vingroup reports doubled sales, tripled profits in Q1


The group also reported a gross aprofit of VND 4.3 trillion and a profit-after-tax of over VND

Viet Nam News –HÀ NỘI — Realty developer Vingroup (VIC) announced consolidated sales of over VNĐ15 trillion (US$671 million) in Q1 of this year, double last year’s sales in the same time period.

The group also reported a gross profit of VNĐ4.3 trillion and a profit-after-tax of over VNĐ1 trillion, or a three-fold increase over the same period last year.

Sales from real estate contributed VNĐ10.5trillion and sales from retail contributed VNĐ2.2 trillion, an increase of 146 per cent and 363 per cent, respectively.

The group said income from the shopping centre and leased office accounted for VNĐ802 billion, up 56 per cent. Hotel and tourism revenue reached VNĐ984 billion, up 54 per cent. Education services contributed VNĐ172 billion, up 45 per cent, and hospital service revenue reached VNĐ216 billion, up 42 per cent.

At present, the group has six projects that are being developed – Vinhomes Gardenia in Cầu Diễn Ward in Hà Nội, Vinhomes Riverside No 2 in Long Biên District, the combination Metropolis project on Phạm Hùng Street in Từ Liêm District and the Vinhomes Central Park project in Bình Thạnh District in HCM City, as well as Vinhomes Hải Phòng in Hải Phòng City and Vinhomes Dragon Bay in Hạ Long City.

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

On May 5, each VIC share rose 1 per cent to reach VNĐ51,500 on the HCM Stock Exchange. — VNS