Van Phu – Invest pays dividends at the rate of 10% in shares

The goal of after-tax profit in 2022 is to increase by 25%

On the morning of April 26, Van Phu – Invest Investment Joint Stock Company held the Annual General Meeting of Shareholders in 2022. Mr. To Nhu Toan – Chairman of the Board of Directors (BOD) of Van Phu – Invest Investment Joint Stock Company, On behalf of the Board of Directors submitted and approved by shareholders the business plan for 2022 with the target of total consolidated revenue at VND 2,600 billion, consolidated profit before and after tax target at VND 538 billion and VND 538 billion, respectively. VND 430 billion – up 25% compared to the realized profit in 2021.

In terms of revenue, projects including: The Terra- An Hung, Grandeur Palace Giang Vo, Terra Hao Nam and Oakwood Residence Hanoi are expected to bring businesses about 900 billion VND in revenue in 2022. As for the Vlasta project – Sam Son with a scale of nearly 29 hectares, including 595 products of villas, garden houses, townhouses and trade and services is expected to bring in about VND 1,700 billion in revenue in the second half of the year. The project is expected to start business in May 2022.

Vlasta – Sam Son project is located in a “golden” position in the southern coastal area of ​​Thanh Hoa province, so there are many opportunities to welcome the wave of infrastructure development and tourism investment here. Representative of Van Phu – Invest assessed that Thanh Hoa real estate market is rich in investment potential and has sustainable profitability.

Also in 2022, businesses will focus on implementing a number of projects. Specifically, the project of Building housing, housing and mixed commerce in Division 2, Southern Urban Area, Dinh Ke ward, Bac Giang city, Bac Giang province with a scale of 109 villas, adjacent and two 28-storey apartment towers. In addition, Grandeur Palace Pham Hung project is preparing for investment and planning adjustment.

Urban area project in Thuy Nguyen – Hai Phong is expected to be constructed in the third quarter of 2022. Loc Binh – Thua Thien Hue project is expected to deploy frame infrastructure construction in the fourth quarter of 2022. Con Khuong – Can Tho New Urban Area Project strives to implement infrastructure construction in the fourth quarter of 2022.

Dividend in shares at the rate of 10%

Regarding the first quarter business results, the business is expected to record about 700 billion VND in revenue from The Terra – An Hung, Grandeur Palace – Giang Vo, Oakwood Residence Hanoi projects. Profit after corporate income tax in the first quarter of the enterprise was about 64 billion VND, fulfilling 14.8% of the profit plan for the whole year.

Regarding business activities in 2021, Van Phu – Invest achieved VND 2,610 billion in revenue, up 20.6% compared to 2020. The company’s 2021 revenue mainly comes from real estate business – handing over products under The Terra – An Hung and Grandeur Palace – Giang Vo projects. In addition, the enterprise continues to record revenue from apartment rental services at the West Lake Hotel Serviced Apartment project.

Excluding related costs, Van Phu – Invest’s pre-tax profit reached VND 392 billion. Profit after tax reached VND 344 billion, up 12.2% compared to 2020.

Regarding dividends, the Board of Directors of Van Phu – Invest submitted and approved by the shareholders attending the meeting the plan to pay a stock dividend at the rate of 10% – shareholders owning 100 shares will receive 10% of the shares. instead of 0% as planned at the beginning of the year. The source of issuance capital comes from accumulated undistributed after-tax profit.

In terms of development strategy, the company will focus on developing land banks in coastal urban areas and in the center of big cities through a combination of M&A, land auction and investor selection bidding in the next 5 years.

To achieve this goal, Van Phu – Invest will actively seek strategic investors to accompany the business with the spirit of “Cooperation and Sharing”. In addition, businesses will strengthen international cooperation to enhance brand value, learn and develop.

Previously, VPI signed cooperation agreements with major partners from Korea and Japan such as Lotte, Hyundai, Sumitomo… in implementing projects in 2021.

Also at the meeting, the Board of Directors of Van Phu – Invest submitted and approved the reports on personnel. In which, Mr. Trieu Huu Dai and Mr. To Nhu Thang are additionally elected as new members of the Board of Directors for the 2020-2025 term.

Doan Phong