Many large enterprises have modest profits
In the first quarter, there were 2 real estate enterprises with profits of over 1,000 billion VND: Vinhomes and Novaland. In which, Vinhomes’ profit was 5,886 billion dong, down 17% over the same period and Novaland’s profit was 1,351 billion dong, up 7% over the same period.
There are 8 enterprises with profit growth above 3-digits: APEC Investment, DRH Holdings, Khai Hoan Land, LDG, Saigontel, Sonadezi Giang Dien, Van Phu Invest and Viglacera.
According to the explanation from Saigontel, in the period when the company’s profit increased, it was due to the profit from leasing land, factories and offices in Dai Dong Hoan Son Industrial Park, Bac Ninh province. In addition, profits from associated companies also increased by 3.2 billion dong. Selling expenses decreased due to advantages from stable and potential customers of the company, Bac Ninh branch in industrial zones and member units.
In addition, CEO Group also recorded a profit of 47 billion dong while the same period last year lost 26 billion dong.
FLC and Vinaconex ITC are the only two enterprises with losses in the first quarter of 2022. Specifically, FLC’s loss was 465 billion dong, while the same period’s profit was 50 billion dong. The reason was that the business was below cost, causing FLC to have a gross loss of more than 14 billion dong, financial expenses suddenly increased 3 times to 161 billion dong. In addition, FLC also suffered a loss of 265 billion dong because of its investment in joint ventures – associates. As of March 31, 2022, FLC is suffering a loss of more than 651 billion dong from the aviation segment (currently holding 21.7% capital in Bamboo Airways).
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
