Vinhomes Joint Stock Company has just announced its Consolidated Financial Statements for the third quarter of 2022.
Accordingly, Vinhomes’ pre-tax profit was VND 18,949 billion, the highest ever. Compared to the second quarter of 2022, Vinhomes’ profit increased by 13 times and compared to the same period last year, the profit increased by 37%.
The reason why Vinhomes profits skyrocketed is that the company started handing over 1,300 low-rise real estate units at the great project Vinhomes Ocean Park 2 – The Empire after 5 months of construction. This helped the total consolidated net revenue, including revenue from Vinhomes’ operations, business cooperation contracts (BCCs) and real estate transfers, to be recognized in financial income, reaching 30,719. billion, up 35% over the same period.
If calculating net revenue alone, Vinhomes reached VND 17,805 billion, down 14% over the same period.
Thus, after 9 months, Vinhomes achieved a total net revenue of 31,200 billion and pre-tax profit of nearly VND 26,200 billion. In terms of sales, Vinhomes has reached VND 110 trillion after 9 months, equivalent to 92% of the plan set out at the beginning of the year.
With the sale of new projects, Vinhomes’ money also increased sharply, to 14.7 trillion dong, 3.2 times higher than the first year. Asset size increased by 48% to VND 342 trillion as of September 30, 2022.
Also at the end of the third quarter of 2022, Vinhomes’ total assets reached VND 342 trillion, an increase of 48% compared to December 31, 2021, of which cash and cash equivalents tripled, 2 times to more than 14.7 trillion dong, thanks to the successful launch of a new project.
In October, Vinhomes established two construction companies. The company said that this will help speed up the construction progress as well as the quality of the works, especially in the upcoming big projects.
Source: CafeF
Source: Vietnam Insider